Bapcor shareholders will receive A$5.4 in cash per share under the terms of the non-binding indicative proposal. — Reuters
SYDNEY: Australia’s Bapcor Ltd confirmed yesterday that it had received a proposal from private equity firm Bain Capital to buy the automotive parts retailer in a deal that valued its equity at A$1.83bil (US$1.2bil).
Bapcor shareholders will receive A$5.4 in cash per share under the terms of the non-binding indicative proposal, representing a premium of 23.9% to the stock’s last close of A$4.36 on June 7.
