A UK entity called Global Auto Holdings will unveil an agreed bid for Lookers worth about 120p-a-share as early as Tuesday, Sky News learns.
Lookers, which trades from about 150 sites, traces its history back to 1908, when it was founded by John Looker.
Lookers eventually floated on the London Stock Exchange in 1973, and now sells cars made by Jaguar, Kia and Maserati, among others. The company was forced to suspend trading in its shares, and eventually revealed a £45.5m loss for 2019. In March, Jardine Motors' owner agreed to sell the business to Lithia Motors, an American car dealer group.
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