GM’s bid withdrawn
General Motors withdrew its bid for Land Rover because the British Government would not agree to the American corporation having more than a 49 per cent shareholding in the British Leyland division. Other groups interested in taking over Land Rover were given until April 15 to revise their offers for consideration by the BL board of directors. Now there is speculation that the BL board might float Land Rover on the stock exchange in the same way as Jaguar. Jaguar was responsible for 40 per cent of Britain’s total vehicle exports last year. They amounted to more than £5OO million for the first time, 26,683 cars being exported worth £502 million. Of that total, 20,528 cars were sold in the United States.
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Press, 24 April 1986, Page 29
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125GM’s bid withdrawn Press, 24 April 1986, Page 29
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