Australia's Bapcor mounts $322.5 mln takeover bid for Hellaby

Mon, 26 Sep 2016

By Paul McBeth Sept. 27 (BusinessDesk) - ASX-listed autoparts firm Bapcor has mounted a $322.5 million takeover bid for NZX-listed Hellaby Holdings as it looks to extend its reach into New Zealand's local auto market. The Preston, Victoria-based company is offering $3.30 a share to take full control of Hellaby, an 8.9 percent premium to yesterday's closing price of $3.03, and has secured acceptances totalling almost 30 percent, according to a notice to the stock exchange. Bapcor wants to delist Hellaby, and plans to sell the equipment, r...

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