Extension granted over potential £400m takeover of Notts company

One of Nottinghamshire's biggest companies has revealed its Swedish suitor has been handed an extension over its potential £400 million takeover move.

The group, owned by Anders Hedin, has a 27.5% stake in the car dealership and is its biggest shareholder. Hedin Group is a major retailer of vehicles in several European countries including Sweden, Germany, and the Netherlands and it operates 240 dealerships, Pendragon said it would consider the preliminary proposal as Hedin was handed a deadline of October 24 to submit a formal offer or walk away.

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