US-based Lithia and Driveway has completed the acquisition of the UK motor and fleet management divisions of Pendragon – the UK’s third largest automotive dealership group. Following a bidding war, the deal closed with a purchase price of £397m. Lithia says that its acquisition of the leasing division adds a “highly profitable” fleet management services […]
Read More →US dealer group Lithia has significantly increased its offer for Pendragon. Lithia, one of the three groups bidding for Pendragon, has upped its total offer to £397 million, up from the original £280m. Vote Rescheduled The new offer comes five days ahead of a proposed vote on the deal, due this Friday. This vote has […]
Read More →US group Lithia has agreed to buy Pendragon’s UK auto retail and leasing operations, including the Evans Halshaw and Stratstone divisions, for £280 million. Under the agreement, the Pendragon PLC business will continue as a listed company, but operating only its Pinewood software business. It will be renamed Pinewood Technologies PLC. Lithia Motors will pay […]
Read More →Canada’s Alpha Auto, through its UK entity Global Auto Holdings, has increased its takeover offer for Lookers to 130p a share. Global Auto Holdings, referred to as Bidco, has also announced that the increased offer will switch to a takeover offer for Lookers. Today’s takeover offer differs from the original scheme offer in the way voting for […]
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