Innovation

Billabong bucks market to fall 17%: Afternoon market insights

Myriam Robin /

The Australian sharemarket neared the close modestly higher today, despite surfwear giant Billabong posting a 16.42% fall after private equity firm TPG capital withdrew its takeover offer early this morning.

The ASX200 added 0.13%, while the broader All Ordinaries index gained 0.15%.

The Australian dollar dipped slightly, buying $US1.02655.

Advertisement
Myriam Robin

Myriam Robin is a reporter for SmartCompany and its sister site LeadingCompany. She has degrees in economics, international studies and journalism. She likes writing about businesses taking risks and doing new things.

We Recommend

FROM AROUND THE WEB