Australia's Bapcor rejects Bain Capital's $1.2b bid; appoints new CEO

Australia's Bapcor rejects Bain Capital's $1.2b bid; appoints new CEO

FILE PHOTO: REUTERS/Kim Kyung-Hoon

Auto parts retailer Bapcor rejected on Tuesday the A$1.83 billion ($1.23 billion) buyout offer from private equity firm Bain Capital, saying the proposal “does not represent fair value for Bapcor”.