viewHR Owen

HR Owen scoffs at takeover bid


Luxury car dealer HR Owen (LON:HRO) has urged shareholders to turn down a bid from a Philippine investment group worth around £32mln.

The 130p-a-share bid from Berjaya was deemed inadequate by the 81-year-old company as it represented just a 7.4% premium to Tuesday’s closing price.

“The board strongly recommends that shareholders take no action in respect of this unsolicited and unacceptable offer from Berjaya,” it told investors.

Last month, Berjaya bought a 30% stake in HR Owen worth £8.3mln.

Sales of the company’s supercars, such as Ferraris and Lamborghinis, have soared as high-rollers show few signs of belt-tightening in the economic downturn.

Its 11 showrooms in London, such as Rolls-Royce in Mayfair, have attracted the capital’s top earners.

It also has a growing used car division, which sells Minis and Audis.

Shares in HR Owen rose 2.7% to 134p, above the price proposed by its suitors.

Quick facts: HR Owen

Price: - -

Market: LSE
Market Cap: -

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events


The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...



Full interview: Helix Technologies following up strong 2019 with success in 2020

Helix Technologies (OTCQB: HLIX) President of Data Services Garvis Toler joined Steve Darling from Proactive Vancouver to discuss the company releasing their 2019 financial numbers which were very strong and also what milestones they hit to close the year.  Toler also told Proactive...

1 day, 23 hours ago

2 min read