42.34%
MILLIE TURNER MARSHALL Motor shares surged more than 42 per cent yesterday after receiving a takeover bid from its largest shareholder.
The offer of 400p per share - or around £201m - comes from
Constellation, which also owns Cinch and Webuyanycar, now has 28 days to make a concrete offer.
Despite battling vehicle supply uncertainty,
The bid follows Constellation snapping up European digital car marketplace Carnext in October, which has a gross merchandise value of some £17.7bn.
"The used-car market is one of the last bastions of the retail market not to be digitized. Like the travel, electronics or apparel market before it, this is just a matter of time," said
(c) 2021 City A.M., source