Cambria Automobiles PLC - franchised motor retailer - Recieves aggregate acceptances for the management buyout worth 76% of the issued share capital of Cambria, meeting the condition of the deal for 75% shareholder approval.
In addition, the offer to acquire the company has been extended by Cambria Bidco Ltd has been extended to 1300 BST on Tuesday.
At the end of July, Cambria Bidco tabled a final increased cash offer for Cambria Automobiles at 82.50 pence per share.
Initial offer in early June was at 80p per share, which was a 21% premium to the closing price of 66.0p on March 19, being the last business day prior to the commencement of the offer period.
Current stock price: 81.00 pence
Year-to-date change: up 38%
By Dayo Laniyan; dayolaniyan@alliancenews.com
Copyright 2021 Alliance News Limited. All Rights Reserved.