An independent expert’s report by Grant Samuel has valued New Zealand-based Hellaby Holdings at between $NZ3.60 and $NZ4.12 per share, and concluded that Bapcor will need to lift its offer of $NZ3.30 per share. Hellaby’s board has reject the $A308m takeover offer from the Australian-listed automotive parts retailer and wholesaler, although CEO Alan Clarke has indicated that the group would be open to a higher offer. Hellaby’s operations include automotive supplies and footwear retailing.
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