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Pendragon ready to merge with Reg Vardy

Pendragon is now positioned to take full control over Reg Vardy as it has received 83.4% of valid shareholders acceptances for its 900p per share offer.

Pendragon needed 75% of shareholders to agree to its bid before it could successfully merge the two companies.

Reg Vardy has been given until March 16 to de-list the company and stop trading on the London Stock Exchange.

Pendragon’s management took up executive director roles within Reg Vardy yesterday, following the resignation of Sir Peter Vardy.

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