Iconic Manchester car dealership Lookers is set to come under Canadian ownership after the board and major shareholders agreed to a nearly half a billion pound takeover.
The business, founded in Manchester city centre in 1908, said on Tuesday that it had negotiated a deal with Alpha Auto Group, an Ontario-based car dealership chain.
The 120p-per-share bid values the now Altrincham-based business at around £465.4 million, it told shareholders. That's around 35 per cent more than the company’s shares were trading at on Monday. Join our WhatsApp Top Stories and Breaking News group by clicking this link The deal has already got big buy-in, with the board unanimously backing it alongside investors who hold 42 per cent of the company's shares.
Lookers said that TDR Capital, Artemis Investment Management, J O Hambro and Schroder had all promised to vote for the deal.
Read more on manchestereveningnews.co.uk
Get the latest stars news and celebrity rumours with exclusive stories, photos, videos and interviews.
Breaking up, scandals, engagements, divorces, gossip – all you need to know about the private lives of your favorite celebs.
Get to know the latest showbiz news along with exclusive interviews and even more. All this is waiting for you on the main page 24 hours a day, 7 days a week! Who, where, when, with whom, how, why and for what!? Stay tuned to know first!
Just follow us daily and we will provide you with the current news from the life of famous stars and celebrities.
Owner: SNOWLAND s.r.o.
Registration certificate 06691200
Address:
Snowland s.r.o.
16200, Na okraji 381/41, Veleslavín, 162 00 Praha 6
Czech Republic
©2024. All rights reserved.