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IN BRIEF: Hedin considers position in regard to stake in Pendragon

28th Sep 2022 19:34

Pendragon PLC - Nottinghamshire-based car dealership chain - Largest shareholder Hedin Mobility Group AB notes the firm's announcement that it is conducting a "comprehensive review" of all "potential strategic options". Hedin Mobility says it is "surprised" by the news and notes that this "contradicts" the long-term view of Pendragon's board. Considers its position in relation to its current shareholding in the Pendragon.

On Monday, Hedin had approached Pendragon with a takeover offer, offering 29 pence per Pendragon share, giving it an equity valuation of around GBP405 million. Back then, it said it would not consider or accept any offers for its current shareholding in the firm.

Current stock price: 27.01 pence

12-month change: up 49%

By Abby Amoakuh; [email protected]

Copyright 2022 Alliance News Limited. All Rights Reserved.

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