WeBuyAnyCar owner BCA in £1.9 billion takeover talks
Shares in BCA surged after it confirmed it is advanced talks with David Lloyd Leisure owner TDR Capital over a deal.
The owner of WeBuyAnyCar.com, BCA Marketplace, has confirmed it is the subject of a £1.9 billion takeover bid from a UK private equity giant.
Shares in BCA surged after it confirmed it is in advanced talks with David Lloyd Leisure owner TDR Capital over a deal to buy the car auctioneer.
The FTSE 250 firm saw shares jump 22% to 237p on Thursday after it confirmed discussions were taking place to buy BCA at a price of 243p per share.
The talks come a year after the company rejected a £1.6 billion takeover bid from former Auto Trader owner Apax Partners.
BCA said that, should TDR make a firm offer, the board will unanimously recommend that shareholders accept the deal.
The proposed deal would also include a 7p per share dividend, the company said.
Surrey-based BCA, which was originally known as British Car Auctions, floated on the London stock exchange in 2015.
BCA bought WeBuyAnyCar in August 2013, and said the brand has since continued to expand rapidly in the UK, before starting a push into Europe by entering the Netherlands market.
BCA added: “The new financial year has started well despite the continuing macro, UK-specific economic and political challenges.”
It is set to announce its preliminary results for the year to March 2019 on Wednesday June 26.
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