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Reuters

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

(Reuters) - Australia's BWX Ltd <BWX.AX> 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).

(Reporting by Devika Syamnath in Bengaluru; editing by Richard Pullin)

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