Bapcor offer 'compelling', Hellaby overstating prospects, says biggest shareholder Castle

Thu, 24 Nov 2016

By Jonathan Underhill Nov. 25 (BusinessDesk) - Bapcor's offer for Hellaby Holdings is "compelling" and in trying to fend off the approach, the diversified investor has overstated its prospects and its independent valuation has omitted some costs, says Hellaby's biggest shareholder, Castle Investments. Castle, owned by the Hugh Green Trust, holds 27.2 percent of Hellaby and along with Salt Funds Management and Accident Compensation Corp had entered a "pre-bid lock-up agreement" with Bapcor and accepted the offer. "We carefully evaluate...

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