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IN BRIEF: 91% of Lookers shareholders approve Global Auto takeover

5th Sep 2023 17:20

Lookers PLC - Manchester-based car sales and service chain - Shareholders vote 91% in favour of Global Auto Holdings Ltd takeover at court and general meetings on Tuesday. Accordingly, the takeover scheme is approved. Global Auto is the bidding vehicle of Alpha Auto Group Holdings LP, a Toronto-based operator of auto retail dealerships across North America. It is offering 130 pence per Lookers share in cash. A previous offer of 120p had failed. Says the offer remains subject to the satisfaction or waiver of other conditions. Currently expects the scheme will become effective early in the fourth quarter of 2023.

Current stock price: 129.00 pence, up 0.3%

12-month change: up 64%

By Greg Rosenvinge, Alliance News reporter

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Copyright 2023 Alliance News Ltd. All Rights Reserved.

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