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Pendragon’s Reg Vardy takeover almost complete

Pendragon has acquired a further 7,058,336 shares at 900p on top of the 15,687,747.

This takes its total share capital of Reg Vardy to 40.4% of the company.

Total accepted offers from shareholders total the Pendragon share of Reg Vardy at over 50%.

Pendragon must now make a mandatory cash offer of 900 pence per share for the entire share capital of Reg Vardy.

The mandatory offer will be sent out to Reg Vardy shareholders “as soon as practicable”.

Lookers withdrew its bid of 875p per share for Reg Vardy on Monday.

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