Today’s best headline
June 26, 2012 1 Comment
Today, Billabong (BBG.AX) founder, major shareholder and board member, Gordon Merchant, has said he will entertain a takeover bid for BBG even if it’s at a lower price that the prior bid.
Geez, Ya reckon??
After rejecting a $3.30 offer and holding out for a bid preferably above $4.00, Mr Merchant now sees his stock trading at $1.00.
Dear Billabong,
I will bid for the whole company at 28 cents per share, on a pre excessive offensive dilutive capital raising basis.
Lesson: You don’t normally command a premium when you are desperate to sell.
rob zdravevski's blog 
the short sellers were calling the shots on this stock since some time last year and is currently one of top ten short interest candidates in ASX 200 index stocks