June 11, 2018 / 6:39 AM / 11 days ago

BCA Marketplace rejects $2.15 billion offer from Apax Partners

June 11 (Reuters) - British car auctioneers BCA Marketplace said on Monday it had rejected a 1.6 billion pound ($2.15 billion) preliminary cash takeover offer from London-based private equity firm Apax Partners.

The 200 pence per share offer represents a 5.2 discount to BCA’s Friday close of 211 pence per share.

No further proposals have been received since it rejected the offer, BCA said. Apax has until July 8 to make an offer or walk away under stock market rules.

Apax said on Sunday it was in early stages of considering an offer for BCA to be made by a new entity controlled by funds advised by Apax. ($1 = 0.7448 pounds) (Reporting by Arathy S Nair in Bengaluru; editing by Patrick Graham)

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