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IN BRIEF: UK Financial Conduct Authority approves Lookers takeover

15th Sep 2023 18:48

Lookers PLC - Manchester-based car sales and service chain - Announces that the UK Financial Conduct Authority has approved its takeover by Global Auto Holdings Ltd. 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. It is expected to become effective on October 6, the company says.

Current stock price: 129.40 pence

12-month change: up 62%

By Heather Rydings, Alliance News senior economics reporter

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