TDR Capital Lobs $2.4B Takeover Offer For Used Car Seller

Law360 (June 20, 2019, 5:53 PM EDT) -- BCA Marketplace's board on Thursday said it received a cash takeover offer from investment funds managed by London-based private equity firm TDR Capital that values the used vehicle auctioneer's shares at roughly £1.9 billion ($2.4 billion).

BCA Marketplace PLC's statement confirms that the companies are in advanced talks about the possible all-cash offer amid what the auctioneer said was media speculation about the company. According to the statement, the TDR-managed funds offered to acquire all of BCA's shares for 243 pence per share in cash, representing a 25% premium to the company's Wednesday closing share price of 195 pence per share....

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