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.
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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