December 19, 2016 / 7:44 PM / 8 months ago

BRIEF-Hellaby Holdings updates on Bapcor offer

Dec 20 (Reuters) - Hellaby Holdings :

* Bapcor has recently increased its offer price to NZ$3.60 per share

* Independent directors believe the revised offer price of NZ$3.60 continues to undervalue Hellaby

* If Bapcor offer fails, Hellaby board's intention would be to immediately confirm an interim dividend

* If Bapcor offer fails, board to pay special dividend to allow shareholders to benefit from the capital gain realised on Equipment Group sale Source text for Eikon: Further company coverage:

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