Shares in Billabong have been placed in a trading halt as takeover talks with two suitors continue. SHARES in Billabong have been placed in a trading halt amid speculation two potential suitors will lower their takeover offers for the troubled surfwear retailer. Billabong says although it had expected the talks to have concluded at the end of March, discussions were continuing. "Discussions in relation to these proposals remain incomplete, and the company expects to make an announcement as and when discussions are complete," Billabong said in a statement on Tuesday. IG Markets market strategist Stan Shamu said there was speculation that the takeover bids for Billabong would be lowered. "The price action (the Billabong share price) has been suggesting that for a while," Mr Shamu said. Mr Shamu said the bid price for Billabong could be lowered to around 80 cents per share, which was still positive given that Billabong last traded at 73 cents. Billabong said the trading halt was needed so it could continue talks with the two bidders. It expects the halt could remain in place until Thursday. Two consortiums led by private equity groups have spent weeks carrying out due diligence on Billabong's books. A consortium of VF Corporation - owner of The North Face and Timberland outdoor clothing brands - and US-based investment firm Altamont Capital Partners expressed interest in Billabong in February. The consortium matched an earlier $1.10-a-share takeover offer put forward by US-based Billabong executive Paul Naude and buyout firm Sycamore last December. VF Corporation has said it hopes to use Billabong to expand its sportswear lines. Altamont is interested in Billabong's other brands and related assets. A spokesman for Billabong said he could not say whether or not the bids had been revised. Nor could he comment on a report in the Fairfax media that Mr Naude and Sycamore's partners were close to a deal with Billabong. Billabong has received six takeover offers since early 2012. In February, Billabong announced it had plunged into the red with a $536.6 million first half net loss. The company, which is undergoing a major restructure, also shocked investors by again downgrading its underlying earnings forecast for 2012/13 to between $74 million and $85 million.