Surf brand Billabong has been circling the drain for awhile now, losing $275.6 million (Australia) in its 2011-12 fiscal years and then being spurned by both suitors, TPG and Bain Capital. TPG recently yanked its $700 million offer, about twice the current stock price, after taking a close look. Well maybe U.S. president Paul Naude knows something TPG and Bain don’t — he’s taking a six-week leave of absence to put together a possible bid to buy Billabong. He can’t, however, be in touch with any of Billabong’s top shareholders or directors, and, naturally, he can’t share inside information to potential investors. Via News.com.

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Tags: Surf

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