Lookers Share Discussion Threads

[mister md] 21/7/2023 17:33

reported very late though ...
5. Date on which the threshold was crossed or reached

11-Jul-2023

6. Date on which Issuer notified

13-Jul-2023

[mfhmfh] 21/7/2023 17:12

J.P. Morgan Securities plc increasing their stake, any significance?

[jaf111] 21/7/2023 13:33

I had a dream………

Hedin and Constellation have had a chat and decided the best way to maximise value for each of them is to revive the PDG LOOK merger….massive rationalisation benefits / economies of scale under new strong leadership…..

I had a dream…..

[daneswooddynamo] 21/7/2023 12:15

Anyone can come back with a higher offer including Global Auto. Constellation has either been approached by Lithia or someone else or is playing hard to get with Global and wants to eke out a bit more as 120 looks too cheap. Outside possibility is a Constellation bid for the rest but I think they might run into competition concerns with Marshall’s and several manufacturers didn’t like the Marshalls deal and have already forced Constellation to divest certain dealerships

[mister md] 21/7/2023 12:06

So there are rumours about another bidder. But could Global Auto Holdings itself still come back with a higher offer ?

[daveme] 21/7/2023 11:15

JAF111, maybe Mr Market is being conservative. When a fund manager is looking at their performance, and hence bonus, they can't be gambling on a potential bid that may come to nothing. Better to sell half their holding, for example, and lock in a gain and run the remainder. Private investors aren't tied to justifying their performance and hence can take a gamble when it looks a good bet.

[jaf111] 21/7/2023 10:47

Indeed…canR17;t argue with your thoughts but why then has the price fallen???
Mr Market is surely not that stupid!

(I had a nibble yesterday too and will buy more if price falls further!)

[daveme] 21/7/2023 10:21

Had a little nibble at 101p.

There's got to be a new bidder in the wings after over 25% of shareholders felt the 120p offer under valued the company. Bear in mind Cinch only owns 20%, hence other shareholder(s) must have been of the same opinion as Cinch.

Watch this space.

[russ1983] 21/7/2023 08:31

surprised to see back towards £1 again today, so have doubled holding. There must be another bid coming Constellation backs or Constellation themselves. £1.20 was too low, the business cash and property is worth 92p alone

[mister md] 21/7/2023 08:20

I've bought some at 103p. If the main shareholder is rejecting 120p, then they must be fairly confident of a better price within the medium term ?

[leadersoffice] 20/7/2023 10:51

Back in at £1.07

[leadersoffice] 20/7/2023 10:42

No smoke without fire. Based on what I just read in that article and that I believe there are under valued, I also think there will now be a rival deal of not imminently... in the near future. It's a gift horse you all should take advantage off. Good luck

[che] 20/7/2023 10:09

https://cardealermagazine.co.uk/publish/lookers-could-an-incoming-bid-from-lithia-motors-be-why-cinch-has-pulled-out/287118

[jaf111] 20/7/2023 09:58

If an alternative / higher bid is coming why has the price fallen……surely Mr Market is that stupid???

But then again……

[jabers] 20/7/2023 07:45

There is another potential issue that nobody has thought about or paying any attention to.

There was a ruling in the High Court of Appeal in MARCH 2023 when RCI (wholly owned by Group Renault) fought very hard to argue that a 24 month manufacturers rolling contract with the Industry could be overruled by their right to terminate any franchise dealers access to the essential manufacturers captive finance offers on 7 days notice with no reason required to be given. Without access to the manufacturers captive finance offers ALL Franchise dealers are unable to operate as they would be in breach of the FCA’S Treating Customers Fairly if they were knowingly selling new vehicles on PCP’s for higher amounts than what was readily available on the market place via the captive finance offers and deposit contributions.

Renault Credit International won in court but the European and UK Motor Industry are still unaware of the consequences.

How can a dealer be now expected to adhere to the strict investment criteria set by manufacturers when they only have a guaranteed 7 days security of tenure with the Franchise.
Uk Banks are not aware of this ruling as yet.

[daneswooddynamo] 20/7/2023 07:43

120 is a low ball offer. based on the price Cinch paid for marshalls 150 would be closer to the mark. Lithia paid 300 million for Jardine and lookers is double the size/profit of jardine

[daveme] 20/7/2023 07:41

Either Cinch agreed to the 120p bid in the hope it would flush out other bidders, which it clearly hasn't, or they are in discussions with another bidder and hence don't want the 120p bid to do ahead. In either case they clearly feel LOOK is worth more than 120p.

The market is probably of this view since the share price is yet to drop to the pre-bid price, or close to it.

Probably worth picking a few more up if the price drops close to £1.

[leadersoffice] 20/7/2023 07:30

I sold out at 1.20. If the deal falls through, I would be a buyer if they get down to 80p

[mikeagreen] 20/7/2023 07:26

Bid has been withdrawn.....

[mfhmfh] 20/7/2023 07:26

Has someone approached Cinch with a better offer?

[che] 20/7/2023 07:15

An improved offer coming?

[liam1om] 20/7/2023 07:11

See todays RNS.

" Global Auto Holdings says Lookers takeover offer now has 11.2% acceptances, down from 30.5%"

[ali47fish] 20/7/2023 07:07

why is the share price falling

[babbler] 20/7/2023 06:52

Maybe they want to put their own offer in ? Lol

[gargoyle2] 20/7/2023 06:41

Cinch withdraws its LOI, will now vote against the 120p offer...