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Birmingham Post
Birmingham Post
Business
Tom Pegden

SHOCKING: Swedish car sales group makes 400m bid for pendragon | Mind Blowing Facts

Pendragon Evans Halshaw

The £3.4 billion turnover group behind car dealers Evans Halshaw and Stratstone has received a new takeover offer.

Nottingham-based Pendragon said it had received the cash offer from the Swedish vehicle retailer the Hedin Mobility Group AB.

Shares in Pendragon were up 20 per cent this morning on the news at 27.4p. Hedin said it was prepared to pay 29p a share for the business, valuing it at more than £400 million. In an announcement to the markets, Pendragon said the unsolicited and “highly conditional” offer was made last Wednesday.

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