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Reg Vardy acquisition approved

Pendragon shareholders have approved its acquisition of dealer group Reg Vardy at an extraordinary general meeting held this morning.

A copy of the resolution passed at the meeting will be submitted to the Financial Services Authority.

Reg Vardy shareholders are reminded that the first closing date of Pendragon’s offer for Reg Vardy is 3pm on December 28.

The offer price is an estimated cash consideration of £450 million.

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