Bapcor Receives $1.21 Billion Private-Equity Takeover Proposal
SYDNEY—Bapcor has become a 1.83 billion Australian dollar (US$1.21 billion) target for a private equity takeover, five weeks after the Australian automotive-accessory provider issued a profit warning.
The ASX-listed company on Tuesday said it received an indicative A$5.40-a-share cash proposal from Bain Capital Private Equity at the end of last week. Its board is considering the unsolicited, nonbinding and conditional proposal.
Source: WSJ