In today’s briefing:
- Weekly Wrap – 21 Jul 2023
- Alpha Auto Group/Lookers: From Done Deal to Uncertain Situation
Weekly Wrap – 21 Jul 2023
Lucror Analytics Weekly Wraps provide an overview of all Morning Views comments and reports published by our analyst team in the past week, and also showcase a list of the most-read reports.
In this Insight:
and more…
Alpha Auto Group/Lookers: From Done Deal to Uncertain Situation
- Lookers disclosed that Cinch (largest shareholder with 19.52% stake) plans to vote against the scheme. The shares have dropped to halfway between the pre-offer price and Alpha Auto’s offer.
- The shares are pricing a 45% probability of deal completion. This sector has a track record of failed deals, so it is understandable that investors are spooked.
- Top Lookers shareholders are keen on selling and an offer from Lithia could well happen. At around 103p I’d be long, as I consider the risk reward is balanced.
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