UK's Lookers up on top shareholder Cinch supporting Global Auto deal

Lookers

02/08/2023 08:33

** Shares of Lookers Plc  LOOK.L  rise as much as 4% to
129.6p, among top pct gainers on London's smallcaps  .FTSC 
index   
    ** Cinch Holdco, top shareholder at the British auto
dealership, lends supports to its deal with Global Auto Holdings
    ** Global Auto says received irrevocable undertaking from
Cinch in respect of around 19.5% of Looker's share capital on
Aug. 1 
    ** LOOK shares hit highest level since June 2017 
    ** Global Auto raised its offer for LOOK by 10p to 130p per
share in late July, valuing the British car dealership at 504.2
mln pounds ($654.15 mln)
    ** Up to last close, LOOK stock had risen ~59% this year

 (Reporting by Prerna Bedi in Bengaluru)
 ((Prerna.Bedi@thomsonreuters.com; +91 98052 24616;))