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Caffyns targetted for purchase

Caffyns’ shares have been the subject of intense activity recently, sparking speculation that another company is trying to build a shareholding before making an outright bid for the Eastbourne-based dealer group.

At the beginning of December the shares were valued at 685p. By Christmas Eve they had risen to 840p.

There are a number of cash rich groups in the area, none of whom were available for comment. All Caffyns’ directors were on holiday over Christmas and New Year.

Established in 1865 Caffyns PLC is a family controlled company with around 800 staff, over 32 retail and trade outlets, and franchises for 13 makes of vehicle.

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