Skin and hair care group BWX has received an unsolicited takeover bid from its senior management and a private equity group.
BWX announced after the close of trading that CEO John Humble and finance director Aaron Finlay had teamed up with Bain Capital to make an offer of $6.60 cash or a 75/25 shares and cash offer comprisings shares in the newly acquired company.
BWX, which markets the Sukin brand of personal care products, among other brands, was in a trading halt on Monday and last traded at $4.41.
The cash offer values BWX at $810 million, well above its current market capitalisation of $540 million.
The trading halt has been lifted and shares are expected to resume trading on Tuesday.
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