Bapcor has rejected an unsolicited, indicative, and non-binding proposal from Bain Capital Private Equity.

The proposal aimed to acquire 100% of Bapcor's shares at $5.40 per share through a scheme of arrangement.

The Bapcor board conducted a comprehensive review of the proposal, considering its value and the company's outlook.

After careful evaluation, the board concluded that the proposal did not offer fair value and was not in the best interests of shareholders.