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Deadline set for tri party Lookers bid

The three-party consortium looking to buy Lookers has until 5pm on June 8 to make its bid for the fifth largest dealer group in the UK.

Trefick, the investment company, which already has a 17.3% stake in Lookers, teamed up with real estate private equity investment advisors Moor Park and venture capitalist Brett Palos to submit a formal written approach to Lookers' board on April 28.

Lookers revealed last week that its board had receieved and rejected an offer which it described as “purely speculative”.

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