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Transportation equipment industry

Rolls-Royce Owners Launch New Bid to Prevent Foreign Hands

Strategic Insights

— 1 min read

Rolls-Royce, the luxury car company, is at the center of a bidding war between Volkswagen and BMW, with a new group of bidders, Crewe Motors, launching a bid to outbid Volkswagen's £430m offer. The group, led by barrister Michael Shrimpton, claims to have backing from customers around the world, particularly in North America, and aims to launch a bid before the shareholder meeting on Friday. Vickers, the board behind Rolls-Royce, is set to recommend shareholders accept Volkswagen's offer, but a spokesman said they would consider new bids if they are "credible" and contain a clear plan for the business.

Key Takeaways:

  • A new group, Crewe Motors, led by barrister Michael Shrimpton, has launched a bid to outbid Volkswagen's £430m offer for Rolls-Royce.
  • The group claims to have backing from customers around the world, particularly in North America.
  • The team behind the bid said they would launch a bid before the shareholder meeting on Friday.
  • Vickers' board is set to recommend shareholders accept Volkswagen's offer, but a spokesman said they would consider new bids if they are "credible" and contain a clear plan for the business.
  • The bid by Crewe Motors is the third in a series of offers for Rolls-Royce, with BMW offering £340m.
  • The future of Rolls-Royce, which also includes Bentley, is now uncertain as the bidding war continues.

Statistics:

  • £430m: Volkswagen's offer for Rolls-Royce.
  • £340m: BMW's offer for Rolls-Royce.
  • Friday: Deadline for Crewe Motors to finalize their bid before the shareholder meeting.
  • North America: Region with significant backing for Crewe Motors' bid.

Sources:

  • Rolls-Royce owners, Vickers (no date)
  • Unnamed spokesperson for Rolls-Royce (no date)
  • Michael Shrimpton, leader of Crewe Motors (no date)

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