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BCA Marketplace rejects $2.15 billion buyout

Staff Writer | June 11, 2018
WeBuyAnyCar owner BCA Marketplace said it had rejected a preliminary 1.6 billion pound ($2.15 billion) cash takeover offer from London-based private equity firm Apax Partners.
WeBuyAnyCar
Acquisition   The 200 pence per share offer represents a 5.2 discount
The 200 pence per share offer represents a 5.2 discount to Friday’s closing price for the car auctioneer of 211 pence per share.

No further proposals have been received since it rejected the offer, BCA said. Apax has until July 8 to make an offer or walk away under stock market rules.

Apax said on Sunday it was in early stages of considering an offer for BCA to be made by a new entity controlled by funds advised by Apax.


 

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