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 →A second offer in three days has been made for Pendragon. The offer has sent shares in the business up more than 12%, raising the prospect of a bidding war for the dealer group. The new offer of 28 pence a share for the whole of Pendragon comes from Swedish firm Hedin Mobility Group and […]
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 →As exclusively revealed by Auto Retail Agenda last weekend, Genesis has today announced its UK retail partners, following the luxury brand’s switch from direct sales to the agency model. Ancaster Group, Arnold Clark, Hendy Group, Holdcroft Group, Pendragon, Richmond Motor Group and Sinclair Group are the seven retail partners set to complement the three existing manufacturer-owned Genesis […]
Read More →Ian Filby is to step down as Pendragon chair after less than two years in the role. The search for a successor is now underway. Ian, a veteran Boots executive and former chief of DFS, will remain in his non-executive chairman role until a replacement is found. The directorate change was announced ahead of Pendragon’s […]
Read More →Lookers is set to be bought by Canada’s Alpha Auto Group, via a UK entity called Global Auto Holdings, in a £465m deal. The deal by the privately owned Canadian retailer network was first announced by Sky News and has been confirmed this morning. It is an all-cash offer for Lookers by the bidding vehicle […]
Read More →Pendragon has been named the leading launch partner of BYD as the Chinese carmaker releases its Atto 3 EV in the UK this week. The UK’s third-most profitable dealer in the Car Dealer Top 100 is opening the first of its BYD sites in Birmingham and Milton Keynes today. The new sites will be launched under […]
Read More →Pendragon is poised to be taken private by Hedin Group in a £400m deal. Board members are reported to have agreed to Anders Hedin they will recommend a 29p a share bid to shareholders. Reports say executives have been finalising the deal which could mean a short extension to the ‘put up or shut up’ […]
Read More →Pendragon will be the lead launch partner for new Chinese brand BYD. The group has revealed the news in its first-half financial results for 2022. The group has stated it is at an advanced stage of negotiations with the new all-electric Chinese entrant. Pendragon joins a growing number of UK retail groups seeking new franchises. […]
Read More →It has emerged that Hedin Group tabled a secret 28p-a-share offer for Pendragon several weeks ago. Pendragon chair Ian Filby and the board rejected the approach. The offer would value Pendragon at around £400m. Auto Retail Agenda has reported Hedin has been building its stake in Pendragon since November 2021. Anders Hedin is now reportedly considering […]
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