September 22, 2023
Hedin Mobility Group AB (publ) (“Hedin Mobility Group”) together with PAG International Ltd. (“PAG International”), a wholly owned subsidiary of Penske Automotive Group, Inc., have made a revised non-binding, preliminary proposal to jointly acquire the entire issued and to be issued share capital of Pendragon PLC (“Pendragon”) not already owned by Hedin Mobility Group for 32 pence per share, in cash (the “Revised Proposal”). On September 22, 2023, Pendragon issued an announcement confirming that its Board of Directors will consider the Revised Proposal and consult with its shareholders.
There can be no certainty that Hedin Mobility Group and PAG International will make a firm offer for Pendragon, or as to the terms of any such offer.
A further announcement will be made if and when appropriate.
Philip Walters, Prosek Partners