Nov 1 (Reuters) - Hellaby Holdings Ltd HBY.NZ
* Bapcor's offer of $3.30 for each hellaby share is significantly below independent adviser's valuation range of $3.60 to $4.12 per share
* Hellaby - advises that its independent directors unanimously recommend that shareholders reject Bapcor takeover offer made on 21 october 2016
* Independent directors believe offer price fails to reflect full value of hellaby and, in particular, its automotive group
* Hellaby holdings ltd - ebitda forecast to grow from $26.8 million in fy 2016 to $31.1 million in fy 2017
* Independent directors believe automotive group has a stand-alone value of at least $350 million
* Hellaby -co's net profit after tax for first half of fy 2017 to 31 dec 2016 will include a transactional gain of around $30 million from sale of equipment group
* "fy 2017 trading profit is forecast to be significantly ahead of fy 2016 year" Source text for Eikon: ID:nNZS7rwa Further company coverage: HBY.NZ