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Pendragon offers 900p per share for Reg Vardy

Pendragon has raised its offer to buy Reg Vardy from 800p to 900p per share.

Pendragon's increased offer overtakes the Lookers bid of 875p per share for Reg Vardy.

Pendragon has bought 6,339,635 at £9 and has now agreed to acquire a total of 15,687,747 Reg Vardy shares, representing 27.9% of Reg Vardy.

The increased offer values the entire existing issued share capital of Reg Vardy at approximately £506 million.

Pendragon also announced that Reg Vardy shareholders who have already accepted the original offer don’t need to take further action in order to receive the increased offer..

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