BCA Marketplace shares rise even as buyer drops out

Shares in FTSE 250 outfit BCA Marketplace (LON:BCA) rose 2.31% to 226.10p (as of 11:30 BST) after it confirmed that neither Apax nor any of the funds it advises would be making an offer for the company. BCA had previously received preliminary and conditional indicative proposals from Apax relating to possible cash offers, but management believed that the proposed terms undervalued the company and its prospects.

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BCA Marketplace, which owns webuyanycar, published its preliminary results for the year ended 1st April last week, which showed a 17.9% increase in operating profits and the company’s management said that the start of the current financial year had also been positive.