One of Nottinghamshire's biggest companies has revealed its Swedish suitor has been handed an extension over its potential £400 million takeover move.
UK car dealership Pendragon, which is based in Annesley, was approached by Swedish motor company Hedin Group in September, over a possible deal to buy out the entirety of its share capital at 29 pence per share.
The group, owned by Anders Hedin, has a 27.5% stake in the car dealership and is its biggest shareholder. Hedin Group is a major retailer of vehicles in several European countries including Sweden, Germany, and the Netherlands and it operates 240 dealerships, Pendragon said it would consider the preliminary proposal as Hedin was handed a deadline of October 24 to submit a formal offer or walk away.
