.£25m LEYLAND BID FOR ROVER CO.
16th December 1966, Page 40
16th December 1966
Page 40
Page 40, 16th December 1966
— .£25m LEYLAND BID FOR ROVER CO.
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A £25 MILLION takeover bid for the Rover Co., Britain's last big independent vehicle A• group, was announced this week by Leyland Motor Corp. The bid is an agreed one, being recommended by the Rover directors.
Leyland is offering a mixture of shares and loan stock worth just over 14s. a share against a market price of just over I Is.
Rover, long regarded as a takeover prospect, includes the Alvis Co., which recently reported a two year order book for military vehicles, as well as the famous Land-Rover and the Rover cars.
Leyland, the Commonwealth's biggest commercial vehicle group, added cars to its range in 1961 when it took over Standard-Triumph.