Bapcor Limited
(ASX:BAP) has announced it has dispatched a letter to shareholders of listed New Zealand company Hellaby Holdings Limited in connection with its proposed takeover offer of the business.
The letter to Hellaby shareholders challenges statements made by Hellaby Holdings that seek to present Bapcor’s takeover offer as opportunistic.
In September of this year Bapcor announced its takeover offer for the Kiwi industrial services business offering NZ$3.30 cash per share, at the time an 18 percent premium to the 3 month volume weighted average price.
Bapcor’s takeover offer for Hellaby closes on the 20th of December 2016
Bapcor Limited reported a net profit of $43.6 million at 30 June 2016.
