August 26, 2018 / 11:10 PM / a year ago

Australia's BWX Ltd says CEO, Bain Capital wrap up due diligence

Aug 27 (Reuters) - Australia’s BWX Ltd said on Monday that two of its senior executives and Bain Capital, who together made an takeover offer for the company, have completed due diligence but need until mid-September to complete work on the offer.

An independent BWX board committee, which undertook a strategic review after the offer, said it would continue talks with the Bain consortium to reach an acceptable binding offer.

BWX, a marketer of branded skin and hair care products, received the unsolicited offer in May from Chief Executive John Humble, Finance Director Aaron Finlay and Bain Capital, for A$6.60 per share, valuing the company at A$803 million ($587 million). ($1 = 1.3669 Australian dollars) (Reporting by Devika Syamnath in Bengaluru; editing by Richard Pullin)

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