International legal practice Osborne Clarke is advising Marshall Motor Holdings plc on its recommended takeover by CAG Vega 2 Limited, a company formed at the direction of Constellation Automotive Holdings Limited. The offer was announced on 29 November 2021.
Under the offer, each Marshall Motors shareholder will be entitled to receive 400 pence in cash for each Marshall Motors share, valuing the company at approximately £322.9 million. The transaction is being effected by way of a contractual takeover and was declared unconditional on 11 May 2022, following receipt of Financial Conduct Authority change of control consent and valid acceptances in respect of 94.77 per cent of the issued Marshall Motors shares. The remaining Marshal Motors shares are to be acquired through the compulsory acquisition procedure under the Companies Act, 2006.
Marshall Motor Holdings Plc (LON:MMH), together with its subsidiaries, engages in retailing passenger cars and commercial vehicles in the United Kingdom. It sells new and used vehicles; and provides after sales services, such as servicing, body shop repairs, and parts sales.