Lookers is lining up a GBP466m offer for Reg Vardy and wants backing from investor Jack Petchey to table the bid, according to the Daily Telegraph. 

Go deeper with GlobalData

Data Insights

The gold standard of business intelligence.

Find out more


The Reg Vardy board has already accepted a recommended GBP450m offer from Pendragon – potentially costing GBP8.00 a share.


But the Telegraph said Lookers wants to use backing from the banks, including HBOS, to put forward an increased offer. The car dealer group’s GBP466m bid for Reg Vardy is priced at around GBP8.30 per share.


Reports suggest any deal will need the approval of Jack Petchey, who is the second highest shareholder in Reg Vardy.


Petchey, whose Trefick investment vehicle controls at least 6% of the shares, has reportedly been in talks with Lookers and will support the highest price offered.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

A source told the paper that a hostile bid was unlikely but it could not be ruled out altogether. Sir Peter Vardy said: “They don’t need to go hostile. If they want to bid, they can bid. There are plus points to both bids. If Lookers bids, it will have the scale with us to compete with Pendragon.”