SHARES in car dealership Reg Vardy hit another all-time high today after the company revealed it was in talks with two more potential buyers.
Both parties have offered more than the £422m previously proposed by rival dealership Pendragon, the Sunderland-based firm said.
Yesterday, shares in Reg Vardy rose 5 per cent to a new all-time high of 772p as investors welcomed the prospect of a possible bidding war and looked to a price higher than the 750p a share proposed by Pendragon two weeks ago.
The identities of the two new partieshave not been revealed.
Reg Vardy, which made profits of £43.9m during the year to April 30, has around 100 dealerships. It told investors earlier this month that sales of both new and used cars have been strong since the beginning of May.
Comments: Our rules
We want our comments to be a lively and valuable part of our community - a place where readers can debate and engage with the most important local issues. The ability to comment on our stories is a privilege, not a right, however, and that privilege may be withdrawn if it is abused or misused.
Please report any comments that break our rules.
Read the rules hereComments are closed on this article