Another multi-player proposal comes out of Europe today as three British carmakers ponder a triangular merger worth $3.7 billion.
Nottingham, U.K.-based Pendragon plc approached Lookers plc, of Manchester, U.K., about a three-way partnership with Reg Vardy plc, a Sunterland, U.K.-based carmaker that Lookers agreed to acquire earlier this month for nearly $760 million, reportedly knocking Pendragon out of the running.
Apparently, Pendragon got wind of how ThyssenKrupp, having lost a bidding war for Dofasco, joined forces with another steel titan earlier today.
Read about some of the masterminds behind the biggest deals of 2005 in an in-depth look at last year’s showstoppers on TheDeal.com. — Carolyn Murphy
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