Bapcor to compulsorily takeover remaining Hellaby sharesSUPPLIED Bapcor chief executive Darryl Abotomey says the ownership transition is going smoothly. The takeover of Hellaby Holdings, which owns several automotive businesses as well as Hannahs and Number One Shoes, is a done deal. READ MORE:* Hellaby concedes in takeover battle* Hellaby final takeover price up to $3.60* Green family accuse Hellaby of misstating its takeover position* Hellaby takeover offer 'significantly below' fair valueAs a result, Hellaby's independent directors recommended shareholders accept the takeover offer. This meant it would now compulsorily acquire the remaining shares in Hellaby under the New Zealand Takeovers Code. "Hellaby shareholders have recognised that accepting the Bapcor offer was the best alternative to optimise value from their Hellaby investment."

Source: Stuff January 31, 2017 21:29 UTC