May 7, 2019 / 10:45 PM / in 3 months

Automotive Holdings backs AP Eagers' sweetened $586 mln offer

May 8 (Reuters) - Australia’s auto retailer Automotive Holdings Ltd recommended AP Eagers’ revised takeover offer, which values the company at A$836 million ($586.20 million), to its shareholders on Wednesday.

AP Eagers has offered one share for every 3.6 Automotive shares, compared to one AP share per 3.8 Automotive shares it had offered earlier. ($1 = 1.4261 Australian dollars) (Reporting by Rashmi Ashok in Bengaluru; Editing by Shinjini Ganguli)

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