Car dealer rival lines up takeover

A SMALLER rival of car dealership Reg Vardy is said to be lining up a £480m (€713m) move to wreck an agreed takeover of the group.

The offer from Manchester-based Lookers would trump one from Pendragon, which is the largest of the three firms, by £30m (€44.5m).

The Sunday Telegraph said the offer could come in the next few days and land chief executive Sir Peter Vardy and his family - who own 27% of the company - with a difficult decision. They have already given undertakings to accept the takeover by Pendragon.