Reported 11 months ago
Australia's Bapcor confirms it received a proposal from Bain Capital to buy the automotive parts retailer for A$1.83 billion ($1.21 billion). Shareholders will get A$5.4 per share, a 23.9% premium. Bapcor shares surged 14.9% on the news, amid challenging trading conditions and management changes. The company stated profits in 2024's second half will be lower, after a decline in share value this year. Analysts noted that Bain's bid was opportunistic due to governance and management concerns, with no guarantee of a final offer.
Source: YAHOO