Last-Ditch Effort to Save Rolls-Royce Motors from German Ownership

Strategic Insights -

A group of British car enthusiasts, led by barrister Michael Shrimpton, is set to make a final bid to acquire Rolls-Royce Motors, with the aim of preventing it from falling into foreign ownership. The enthusiasts claim to have a higher offer than Volkswagen's £430 million, which is currently the highest bid on the table. With shareholders set to meet on Friday to approve the sale to Volkswagen or BMW, time is running out for the group's last-ditch effort. The enthusiasts, backed by loyal customers of Rolls-Royce and Bentley, believe they have the financial clout to trump the existing bids and secure the future of the iconic British brand.

Key Takeaways:

  • A group of British car enthusiasts, led by barrister Michael Shrimpton, is making a final bid to acquire Rolls-Royce Motors.
  • The group claims to have a higher offer than Volkswagen's £430 million, which is currently the highest bid on the table.
  • The enthusiasts are backed by loyal customers of Rolls-Royce and Bentley, who have put together enough financial clout to challenge the existing bids.
  • Time is running out, as shareholders are set to meet on Friday to approve the sale to Volkswagen or BMW.
  • The group believes that BMW's shareholders and bankers would not approve a higher bid, citing the company's stretched financial situation.
  • The bid is a last-ditch effort to prevent Rolls-Royce Motors from falling into foreign ownership.

Statistics:

  • £430 million: The current highest bid on the table, made by Volkswagen.
  • £340 million: The bid made by BMW, which has been ruled out by the group as being too low.
  • £: The amount of financial backing the group has secured from loyal customers of Rolls-Royce and Bentley.
  • Friday: The day shareholders are set to meet to approve the sale to Volkswagen or BMW.

Sources:

  • "A team of British car enthusiasts is preparing to make one last bid to stop Rolls-Royce Motors being sold to the Germans." The Daily Telegraph, no date provided.
  • "Mr Shrimpton, aged 41, from Aylesbury, Bucks, said his group was still putting the final touches before launching an offer." The Daily Telegraph, no date provided.
  • "Our money is coming from customers who buy the car and we have backing from across the world, particularly in North America," said Mr Shrimpton." The Daily Telegraph, no date provided.
  • "He said he had talked with BMW last week and the German company had confirmed it would not increase its £340 million offer." The Daily Telegraph, no date provided.