A proposed $48.8-million buyout of Quiksilver Inc....

A proposed $48.8-million buyout of Quiksilver Inc. fell apart as managers of the Newport Beach surfwear and sportswear maker decided not to join in the plan to take the company private. The company refused to expand on its terse press release about the failure of the proposal. Three weeks ago, Wedbush Securities, a Los Angeles brokerage, proposed the leveraged buyout to Quiksilver’s management. Under the proposal, Wedbush would have financed the purchase of Quiksilver’s 6.1 million shares at $8 a share in cash.