Australian automotive aftermarket parts company Bapcor Ltd lifts its stake in New Zealand takeover target Hellaby Holdings Ltd over 50% yesterday after holders of 1.4% of Hellaby sent in acceptances in the last 3 days.
Those acceptances took Bapcor’s stake to 50.1%. Itss offer is conditional on 90% acceptance.
Bapcor originally offered $3.30/share, then raised the offer to $3.60 but excluded an interim dividend.
7 January 2017: Bapcor edges close to majority stake in Hellaby
Attribution: Company release.