Evans Halshaw is a chain of car dealerships with around 180 showrooms, predominantly in Northern England. It is a subsidiary of Pendragon PLC.
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Pendragon PLC is the largest independent operator of franchised motor car dealerships in the UK, operating over 300 franchises.
In January 2006, Pendragon offered 900p per Reg Vardy share. The family backed the proposal, at the original price of 800p. Sir Peter Vardy, the chief executive, effectively sold his stake to Pendragon after he put an option on his 16.6% stake.
Lookers tabled an 875p a share proposal, after the original Pendragon offer, which was then recommended by other members of the Board of Reg Vardy.
But to add to this, Pendragon had offered to buy Lookers, offering 1.15 new Pendragon shares for each Lookers share.
Pendragon won the bid battle for Reg Vardy. In the long run, perhaps the company was not evolving the way Reg would have liked.
Evans Halshaw are the UK’s leading volume motor car retailer with franchises to sell and service Chevrolet, Citroen, Fiat, Ford, Hyundai, Kia, Nissan, Peugeot, Renault, Suzuki and Vauxhall.