Bapcor A$1.83b takeover stalls
It has been a busy day for the automotive aftermarket supplier, which has also announced a new CEO and chair.
The ASX-listed Bapcor runs 1100 stores in Australia and New Zealand across the Autobarn, Autopro, and Burson brands.
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Automotive aftermarket supplier Bapcor has rejected Bain Capital’s offer to acquire the company for A$1.83 billion ($2b), stating it does not fairly value the company.
Shares in the company tumbled by 24% in May, wiping out A$500 million in value, following a succession of earnings downgrades and
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