The takeover offer for luxury car dealer HR Owen has been extended for another fortnight by Berjaya Philippines Incorporated.
BPI made the 130p per share offer on July 29 and has now twice extended the period for shareholders to accept.
HR Owen's board have urged shareholders to reject the offer, saying it undervalues the business.
The deadline is now September 16. BPI has received valid acceptances relating to just 0.54% of the outstanding HR Owen shares. The offer is conditional on acceptance of 50.1% of the shares.
One of HR Owen's largest shareholders is Bentley Motors, which rejected the offer.
An award-winning journalist and editor, with two decades of experience covering the motor retail industry, and accredited by the Institute of Leadership and Management (ILM) plus the National Council for the Training of Journalist (NCTJ)
As editor of AM since 2016, Tim is responsible for its media content, planning and production across AM's multiple channels, including the website, digital reports, webinars, social media and the editorial content of AM's events, Automotive Management Live and the AM Awards. His focus is on interviewing senior leaders of franchised dealer groups and motor manufacturer national sales companies to examine latest developments in UK motor retail.
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