Marshall Motor Holdings plc’s £322.9 Million Takeover Offer

In UK Osborne Clarke, advised on the matter.

Osborne Clarke advised Marshall Motor Holdings with a team including Rebecca Gordon (Picture – Equity Capital Markets), Michael Carter (Executive Compensation).

Marshall Motor Holdings plc received a recommended takeover offer 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.

The Marshall Motor group’s businesses have a total of 162 franchises covering 26 brands, across 37 counties in England and Wales. In addition, the group operates nine trade parts specialists, two used car centres, five standalone body shops and one pre delivery inspection centre.

The Osborne Clarke team that advised Marshall Motors on the transaction was led by Corporate Partner Rebecca Gordon (Picture) assisted by Senior Associates Stuart Miller and Oliver Woods. Partner Michael Carter and Senior Associate Rhiannon Jones provided share schemes advice.

Involved fees earner: Michael Carter – Osborne Clarke; Rebecca Gordon – Osborne Clarke; Rhiannon Jones – Osborne Clarke; Stuart Miller – Osborne Clarke; Oliver Woods – Osborne Clarke;

Law Firms: Osborne Clarke;

Clients: Marshall Motor Holdings;

Author: Giulia Di Palma