Australia's Bapcor set for best week in over 8 years on $1.2 bln takeover bid

Bapcor

14/06/2024 03:39

** Shares of Bapcor  BAP.AX  fall as much as 2.8% to A$4.890
    ** Stock has risen 15.3% so far this week, and on track for
its biggest weekly gain since mid-Feb 2016
    ** The auto parts retailer on Tuesday received an A$1.83 bln
 ($1.21 bln) takeover offer from private equity firm Bain
Capital
    ** Shares trading at a discount to Bain Capital's offer of
A$5.40 cash per share
    ** Stock down 9.2% YTD, based on last close

    ($1 = 1.5078 Australian dollars)

 (Reporting by Aaditya Govind Rao in Bengaluru)
 ((Aaditya.govindrao@thomsonreuters.com;))