Auto Retailer Pendragon Hits Brakes On £405M Buyout Plan

By Najiyya Budaly (August 5, 2022, 1:33 PM BST) -- Auto retailer Pendragon PLC said on Friday that it has terminated talks with an international company over a £405 million ($492 million) buyout after one of its largest shareholders rejected the deal.

Pendragon said the bidder, which it did not name, withdrew its non-binding offer after it was "unable to engage" with one of the auto retailer's five largest shareholders. (Daniel Leal / AFP via Getty Images) Pendragon, which is listed on the FTSE All-Share index of the London Stock Exchange, said that the bidder — which it did not identify — withdrew its non-binding offer after it was "unable to...

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