Billabong Got Crushed After Its Takeover Talks Ended

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Surf retailer Billabong (BBG) looks set to close nearly 50% down after takeover talks with two potential buyers ended.

The two private equity groups, Sycamore Partners Management and Altamont Capital Partners are now in asset-sale and refinancing talks with Billabong.

That means it could be broken up.

At 03:46 PM today, it was down 49.45% to 22 cents.

Earlier it was down by as much as 58%.

Now read: Billabong Considers Refinancing After Failing To Secure A Takeover

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