Stock of the day: Bapcor rejects Bain Capital's $1.83 billion offer
Bapcor rejects Bain Capital's $1.83 billion buyout offer, citing undervaluation. With new leadership and projected net profit between $93 million and $97 million for FY24, the future of Bapcor remains under scrutiny.
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[AI generated]
Stock of the day: Bapcor (ASX: BAP)
Bapcor rejected a $1.83 billion buyout offer from Bain Capital, deeming it undervalued. With a projected FY24 net profit between $93 million and $97 million and the appointment of Angus McKay as CEO, the focus is on Bapcor's leadership and profitability.
Analysts suggest a "wait and see" strategy due to ongoing leadership transitions and uncertainty about management’s turnaround capability.
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