HR Owen says no to takeover

Marion Dakers
LUXURY car dealer HR Owen has again rejected a takeover bid from Berjaya Philippines, which became its biggest shareholder last month.

HR Owen execs met with Berjaya for the first time just a day before the conglomerate made its £32.5m bid, taking the firm by surprise.

“It’s difficult to know what they plan to do with the business,” boss Joe Doyle told City A.M. HR Owen has received support for its position from investors holding 31.3 per cent.