Former Stratstone boss Trevor Fussey has joined Marshall Motor Group as its new group managing director.
Pendragon PLC's sale of all its Evans Halshaw and Stratstone dealerships and vehicle leasing businesses to Lithia netted a £40.7 million for the remainder of the business, which now continues as Pinewood Technologies PLC.
US-based giant Lithia, the new owner of Pendragon, has unveiled plans to axe hundreds of jobs.
AM100 dealer group JCT600 has been forced to shut down critical IT systems after the business was targeted by cyber criminals.
Pendragon’s multi-million pound sale of its dealerships and leasing businesses to Lithia & Driveway creates a business with considerable market influence.
Today is the date that the deal between America's Lithia and Driveway and AM100 dealer group Pendragon is expected to be completed. leaving Lithia in charge of nearly 200 franchised dealerships in the UK.
The Financial Conduct Authority has given the go-ahead for US-based Lithia Motor's takeover of the motor retail part of Pendragon, including its Pendragon Finance and Insurance Services Limited business.
Andersen EV is to partner with Stratstone Porsche Centres in the Midlands and North West to help more customers make the switch to electrification.
With Lookers and Pendragon the subjects of acquisition, the listed UK motor retailer is fast becoming a rarity. Tom Seymour consults the experts
American motor retailer AutoNation said on Tuesday it had withdrawn its offer for Pendragon only weeks after Hedin Mobility and PAG International also dropped their joint bid.
Reports suggest that America's AutoNation car dealer group is considering increasing its bid for Pendragon to snatch it from rival Lithia Motors.
One of the potential suitors of Pendragon, the UK car dealer group at the centre of takeover talks with several prospective buyers, has publicly backed out.
America's Lithia Motors has increased its acquisition offer for Pendragon by 42%, another £117 million, taking the amount being offered for all its Stratstone, Evans Halshaw, Carstore and PVM motor businesses up to £367 million.
Pendragon, the owner of the Stratstone, Evans Halshaw and Car Store brands, has delivered a positive set of trading results revealing pre-tax profits rising 10.6% to £36.4 million in the six months to June 30.
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.
A second pitch from Anders Hedin and Roger Penske's dealer groups to acquire Pendragon in its entirety has upped their offer from 28p per share to 32p per share.
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.
A trading update by Pendragon has reported a "robust performance" in the first half of 2023, despite the headwinds of rising interest rates and inflation.
Reducing Pendragon's carbon emissions by 5%, increasing female representation in management positions and bringing at least two new OEMs on board are among the three-year targets set for the AM100 dealer group's chief executive Bill Berman and chief financial officer Mark Willis.
