A Pendragon showroom
(Picture: Pendragon)Pendragon, the owner of the Evans Halshaw and Car Store brands, has said it is no longer in takeover talks with an unnamed potential suitor after one of its existing shareholders refused to engage with the bid.
The company said the offer, from a “large international corporate”, was not going ahead after one of its five biggest investors would not join the talks, which were supported by the other four. The bidder’s offer, priced at 29p per share, which would have valued the company at around £460 million according to the Reuters news agency. It was conditional on the backing of all the major shareholders.
