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Pendragon reacts to Lookers' Vardy bid

Pendragon has confirmed it is re-assessing its options in response to the Lookers 875p per share bid (£492m in cash) for Reg Vardy today.

Pendragon stated it believes a combination of its own business and Reg Vardy is still consistent with its strategy of ‘increasing its scale with a select number of manufacturing partners’.

Pendragon said a further statement of what it will do next will be announced ‘in due course’.

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