In August, Sky News reported that Lithia presented “a board-approved nonbinding offer” for Pendragon, but noted the proposal was contingent on receiving “irrevocable commitments” from each of the company’s five major shareholders. However, Pendragon said it was unable to engage with one of the shareholders on the offer.
At the time, Pendragon was Europe’s ninth-largest dealership group by revenue, according to Automotive News Europe‘s 2021 Guide to Europe’s biggest dealers, when…
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