Car retail sector PLCs Vertu Motors, Pendragon, Lookers and Motorpoint are expected to see “valuations improve” as stability returns to the UK economy.
Cazoo has completed a ‘reverse stock split’ process to merge its share capital in bid to boost trading values on the New York Stock Exchange (NYSE).
Lithia Motors’ Jardine Motor Group takeover talks have highlighted the undervaluation of UK car retail businesses, analysts have claimed.
The New York Stock Exchange (NYSE) has begun the process of de-listing warrants for online car retailer Cazoo as a result of “abnormally low” price levels.
Porsche is expected to raise in the region of £17 billion to invest in electric vehicle (EV) development after being priced at around 75 billion euros (£67.2bn) in today’s IPO.
Hedin Group has withdrawn its move to block rival bids for AM100 car retail group Pendragon after a “surprise” announcement from the PLC’s board.
One of Pendragon’s five major shareholders has blocked a takeover bid launched for the AM100 car retail PLC by “a large international corporate”.
The listing of the fast-growing Polestar electric vehicle (EV) brand in the New York Stock Exchange has been described as "an incredibly proud moment" by the OEM's chief executive Thomas Ingenlath.
Pendragon remuneration committee chair Mike Wright has left the car retail PLC after it emerged that the business looked set to face a third successive AGM shareholder revolt over its leadership bonuses.
Pendragon’s leadership team could be set to face another shareholder revolt over “inappropriate” financial bonuses – a year after their last showdown with investors.
Vertu Motors has completed a £2 million share buy back transaction to boost its employee benefit trust” as chief executive Robert Forrester increased his own shareholding in the car retail PLC.
Swedish car retailer Hedin Group could be lining up a second takeover bid for Pendragon after having an initial £400m offer rejected, it has been reported.
Inchcape PLC’s global footprint will mitigate the impact of a £750 million exposure to the Russian automotive sector, analysts have said.
Market analysts have predicted that Porsche could be valued at in excess of £75 billion ahead of a public offering which aims to unlock value from the performance car brand.
Cinch, BCA and Webuyanycar owner Constellation Group has followed up its move to acquire Marshall Motor Holdings with the purchase of a 19.9% stake in Lookers.
A share price slump has seen the value of online car retailer Cazoo halve since its August listing on the New York Stock Exchange.
Vertu Motors has deployed some of its “M&A firepower” to complete the £9.2 million acquisition of two-site Toyota franchised car retailer Farmer and Carlisle.
Marshall Motor Group chief executive Daksh Gupta was described as a “caged tiger” after COVID-19 isolation kept him locked away ahead of completion of today’s Motorline acquisition.
The deadline for the takeover of Cambria Automobiles by chief executive Mark Lavery has been extended by a week after shareholders held-back from accepting the terms of his £82.5 million offer.
Cambria Automobiles chief executive Mark Lavery has dismissed angry US-based shareholders’ allegations that his £82.5 million takeover bid for the car retail PLC is akin to “stealing”.
