Aussie auto parts retailer Bapcor extends rally on $1.2 bln takeover offer

Bapcor

12/06/2024 03:17

** Shares of Australian auto parts retailer Bapcor Ltd
 BAP.AX  rise as much as 3.6% to A$5.150, their highest level
since April 29
    ** Bapcor stock extends gains into second straight day after
it received a A$1.83 bln ($1.21 bln) takeover offer from private
equity Bain Capital on Tuesday 
    ** BAP among top gainers in the ASX 200 benchmark index
 .AXJO  on Wednesday
    ** Shares trading at a discount to Bain Capital's offer of
A$5.40 cash per share
    ** So far this week, BAP stock has gained 17.4%, and will
mark its best week since February 2016, if trend holds
    ** BAP down 10.3% this year, as of last close

    ($1 = 1.5126 Australian dollars)

 (Reporting by Sameer Manekar in Bengaluru)
 ((Sameer.Manekar@thomsonreuters.com; Twitter: https://twitter.com/sameer_manekar))