Pendragon has once more extended the deadline for Reg Vardy to accept its 800p per share offer to buy the company.

The original deadline ended yesterday and has been extended until 3.00pm, February 1.

Lookers made its own offer for Reg Vardy on Tuesday, at 875p per share, which was accepted. However, Pendragon still has the right to purchase 9,348,111 Reg Vardy shares from Sir Peter Vardy at its original offer of 800p per share, through what’s known as an ‘option deed’.