Rumours are circulating in the City that Pendragon
could be the target of a takeover attempt. Stock-watchers have
noticed that the same buyer moves in to buy shares in the
beleaguered car retail group, which issued two profit warnings in
recent months, whenever the shares fall. A potential bidder
could be attracted by Pendragon’s property portfolio, although
following a £400m sale-and-leaseback of its land assets last year,
it is unclear how much value any corporate predator could extract
from Pendragon’s remaining land book.
Go deeper with GlobalData
Access deeper industry intelligence
Experience unmatched clarity with a single platform that combines unique data, AI, and human expertise.
Pendragon’s share price, which has been hovering just over
the 30p mark in recent days, gives the group a market
capitalisation of around £210m. In 2006, the chain bought rival Reg
Vardy for over £500m, and its shares were trading at over 120p as
recently as May 2007.
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalData
