Wires

Billabong shares hit record low after TPG drops bid

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SYDNEY, Oct 12 (Reuters) - Shares in Australian surfwearretailer Billabong hit a record low after privateequity firm TPG walked away from a A$694 million ($712.91million) bid.

The shares were trading down around 15 percent at 85.5 centsby 0002 GMT after falling as low as 82 cents in early trade.

The broader market was a touch higher.($1 = 0.9735Australian dollars)

(Reporting by Narayanan Somasundaram; Editing by Ed Davies)

((narayanan.somasundaram@thomsonreuters.com)(+61 293731815)(Reuters Messaging:narayanan.somasundaram.reuters.com@reuters.net))

Keywords: BILLABONG SHARES/