Bapcor (BAP AU): Bain Kicks Some Tyres

Jun 11, 2024

∙ Paid

Back in February 2022, automotive aftermarket parts provider Bapcor Ltd (BAP AU) was reportedly subject to multiple buyout proposals. BGH Capital, Quadrant, and Pacific Equity Partners were touted.
That all came to nought. Shares drifted sideways. Then down. Shares touched a four year low late last month.
After the incoming CEO had a change of heart, and weaker FY24E guidance, Bain has now tabled a cheeky A$5.40/share indicative Offer. That won't fly; but value is evidently emerging.

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