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Lookers in Reg Vardy race

Lookers has confirmed that it has been actively engaged in discussions with Reg Vardy about a possible cash offer.

The company said it had made good progress in arranging finance for the offer.

Pendragon set out a proposed offer for the shares of Reg Vardy at 800p per share this morning.

Depsite this, Lookers is continuing to discuss funding with potential providers. It believes that there would be no regulatory issues in relation to any offer it might make.

Lookers said it would make a further announcement soon.

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