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BCA Marketplace rejects £1.6B acquisition offer from Apax Partners

BCA Marketplace PLC, the owner of car auction website webuyanycar.com, has turned down a £1.6 billion takeover offer by private equity firm Apax Partners LLP, The Telegraph reported June 11.

Apax had reportedly offered 200 pence per share for the car auctioneer.

The private equity firm has until July 8 to make an offer or announce that it does not plan to bid, the news outlet reported.