Hellaby urges shareholders to reject Bapcor offer 'significantly below' valuation

Mon, 31 Oct 2016

By Paul McBeth Nov. 1 (BusinessDesk) - Hellaby Holdings is urging shareholders to reject a $322.5 million takeover bid by ASX-listed Bapcor, saying it's "significantly below" its independent adviser's valuation range. Grant Samuel valued Hellaby shares at $3.60-to-$4.12 apiece, above the $3.30 offer put forward by the Preston, Victoria-based company Hellaby said in its target company statement. The NZX-listed company's independent directors said the offer didn't reflect the full value of the business, and the automotive unit in particula...

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