Lookers, one of the last remaining listed car dealership groups in the UK, is to be bought in a £465mn deal after being approached by a private Canadian owner, Alpha Auto.
The buyer, which owns around 15 larger dealership groups across the US and Canada, will pay 120p a share, a premium of around 42 per cent on the average trading price over the past month. Lookers’ shares rose by a third to 118.84p on Tuesday morning.
Lookers has around 150 UK dealerships, and the pair…
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