Takeover target Hellaby hints at possible breakup on its own terms

Thu, 08 Dec 2016

By Edwin Mitson Dec. 8 (BusinessDesk) - Hellaby Holdings, which is engaged in a battle to fend off unwanted suitor Bapcor, has told shareholders it could move to break up the company to realise shareholder value. Australian car parts company Bapcor raised its offer to $3.60 a share earlier this week from $3.30, but the independent directors of Hellaby said they could not recommend the offer unless it included an 18 cents per share dividend. Bapcor has refused this, and the Takeovers Panel has now ruled the offer price of $3.60 per share...

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