Iconic Manchester car dealership Lookers is set to come under Canadian ownership after the board and major shareholders agreed to a nearly half a billion pound takeover.
The business, founded in Manchester city centre in 1908, said on Tuesday that it had negotiated a deal with Alpha Auto Group, an Ontario-based car dealership chain. The 120p-per-share bid values the now Altrincham-based business at around £465.4 million, it told shareholders.
That's around 35 per cent more than the company’s shares were trading at on Monday.
