Picture: Colin Mearns.
The company behind auto website WeBuyAnyCar has rejected a takeover bid from private equity giant Apax Partners.
BCA Marketplace said that, in May, it received a "preliminary and conditional approach" from Apax worth 200p per share.
However, after "careful consideration", the proposal was rejected and no further offers have been received.
In accordance with stock market takeover rules, Apax has until July 8 to either announce a firm intention to make an offer for BCA or walk away.
BCA has a market value of around £1.7 billion.
"There can be no certainty that any offer will be made nor as to the terms of any offer," BCA said.
Shares in BCA were up over nearly 10% in morning trading to 232p.
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