IN BRIEF: Lookers says High Court sanctions takeover scheme

Lookers PLC - Manchester-based car sales and service chain - High Court sanctions scheme by which the takeover by Global Auto Holdings Ltd will be implemented. Anticipates that the effective date will be October 6. Applications have been made for the suspension of trading in shares on the London Stock Exchange's main market for listed securities, and the listing of shares on the premium listing segment of the Official List. Explains the suspensions are expected to take effect from on October 6. The last day of dealings will be October 5.

On September 15, company said that the UK Financial Conduct Authority has approved the takeover by Global Auto Holdings Ltd. Global Auto is the bidding vehicle of Alpha Auto Group Holdings LP, a Toronto-based operator of auto retail dealerships across North America. It is offering 130 pence per Lookers share in cash. A previous offer of 120p had failed.

Current stock price: 129.60 pence

12-month change: up 91%

By Jeremy Cutler, Alliance News reporter

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