American motor retailer AutoNation said on Tuesday it had withdrawn its offer for Pendragon only weeks after Hedin Mobility and PAG International also dropped their joint bid.
American motor retailer AutoNation has now joined the bidding war for Pendragon, with its own 32p per share pitch matching the revised offer proposed by its US rival Lithia.
Pendragon has unanimously rejected an unsolicited and preliminary proposal by Hedin Mobility and Penske
US-based Lithia Motors could be set to take over Pendragon's dealership and leasing businesses in a £250 million deal which would leave Pinewood, Pendragon's software division, behind as a standalone entity retaining Pendragon's stock market listing.
Shareholders in Lookers voted on the 130p per share takeover offer by Global Auto Holdings this week and a huge majority gave it their backing.
Arden BMW and Mini has been taken over by US-based Lithia And Driveway, owner of Jardine Motors Group
Fix Auto UK has doubled the number of repair centres in Northern Ireland within the space of 18 month
The family-owned and operated John Clark Motor Group (JCMG) is actively seeking out acquisition targets after celebrating a record 2022.
Cinch and other shareholders are backing the increased takeover offer from Global Auto Holdings for Lookers for £504.2 million.
Hedin Automotive has expanded its representation with premium brands after acquiring Stephen James Group for an undisclosed sum.
Global Auto Holdings has increased its offer to takeover Lookers by nearly £40 million to £504.2m after some shareholders rejected the previous offer.
Global investment firm Carlyle has agreed to acquire Evolution Funding, the UK used car finance platform.
Motorway, the UK used car marketplace, has acquired vehicle provenance check provider Total Car Check for an undisclosed sum.
Global Auto Holdings’ £465.4 million bid to acquire Lookers may be in doubt as shareholder Constellation Automotive has announced it will vote against the deal.
Steven Eagell Group has completed the acquisition of nine Toyota and three Lexus dealerships from Marshall Motor Group for an undisclosed sum.
The top 10 AM100 dealer group Lookers has expanded its portfolio of Volvo dealerships with its takeover of Waterhouse Cars in Chelmsford.
Brayleys Cars has acquired Grovebury Kia Dunstable for an undisclosed sum.
Arnold Clark is set to further expand its retail network with opening of two Kia dealerships after taking over the Korean carmaker’s West Coast franchise from Springside Motors.
Steven Eagell could be about to secure the acquisition of 13 Toyota and Lexus car dealerships from Marshall Motor Group.
Lookers chief operating officer Duncan McPhee has said the AM100 PLC is ready to accelrate growth through acquisitions and the creation of a Lookers Car Hub used car operation.
