Marshall Motor Holdings PLC (AIM:MMH) is to be taken over by Constellation Automotive Group, which owns Cinch and webuyanycar.com.
The board of Marshall has recommended an offer from Constellation of 400p in cash per share.
Constellation has already received acceptances of its offer in respect of 64.4% of the company’s share capital from its largest shareholder, Marshall of Cambridge (Holdings) Limited, so this deal looks ready to be driven off the forecourt, barring a rival bid or intervention from the Competition and Markets Authority.
Marshall Motor Group is the fifth largest motor dealer group in the UK. Shares in the company Marshall shot up 41% (111p) to 385p on Friday as bid rumours started to circulate.