{"id":3977,"date":"2006-02-13T00:00:00","date_gmt":"2006-02-13T00:00:00","guid":{"rendered":""},"modified":"-0001-11-30T00:00:00","modified_gmt":"-0001-11-30T04:00:00","slug":"hedge-funds-to-crash-vardy-deal","status":"publish","type":"post","link":"https:\/\/www.hedgeco.net\/news\/02\/2006\/hedge-funds-to-crash-vardy-deal.html","title":{"rendered":"Hedge funds to crash Vardy deal"},"content":{"rendered":"<p>The Sunday Times &#8211; PENDRAGON\u00c3\u00a2\u00e2\u201a\u00ac\u00e2\u201e\u00a2s \u00c3\u201a\u00c2\u00a3506m bid for rival car dealer Reg Vardy could be frustrated by a number of hedge funds and proprietary trading desks that have built a big stake in the group,<em>writes Richard Fletcher.<\/em><\/p>\n<p>  Despite having triumphed in a two-way fight for Reg Vardy with a 900p-a-share offer \u00c3\u00a2\u00e2\u201a\u00ac\u00e2\u20ac\u009d outbidding rival Lookers \u00c3\u00a2\u00e2\u201a\u00ac\u00e2\u20ac\u009d it could turn out to be a pyrrhic victory for Trevor Finn, the chief executive of  Pendragon.<\/p>\n<table cellspacing=\"0\" cellpadding=\"0\" align=\"right\" border=\"0\">\n<tr>\n<td>    <\/td>\n<\/tr>\n<tr align=\"right\">\n<td align=\"right\">      NI_MPU(&#8216;middle&#8217;);    <\/td>\n<\/tr>\n<\/table>\n<p>Finn now controls more than 50% of the shares in Pendragon. However, with a combined holding of nearly 25% the hedge funds and traders could still frustrate his plans to merge the twobusinesses.<\/p>\n<p>  With 25% of the shares the hedge funds could block Finn\u00c3\u00a2\u00e2\u201a\u00ac\u00e2\u201e\u00a2s plans at a general meeeting.<\/p>\n<p><a href=\"http:\/\/www.timesonline.co.uk\/article\/0,,2095-2036002,00.html\">Read Complete Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Sunday Times &#8211; PENDRAGON\u00c3\u00a2\u00e2\u201a\u00ac\u00e2\u201e\u00a2s \u00c3\u201a\u00c2\u00a3506m bid for rival car dealer Reg Vardy could be frustrated by a number of hedge funds and proprietary trading desks that have built a big stake in the group,writes Richard Fletcher. Despite having triumphed [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-3977","post","type-post","status-publish","format-standard","hentry","category-syndicated"],"_links":{"self":[{"href":"https:\/\/www.hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/3977","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.hedgeco.net\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.hedgeco.net\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.hedgeco.net\/news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.hedgeco.net\/news\/wp-json\/wp\/v2\/comments?post=3977"}],"version-history":[{"count":0,"href":"https:\/\/www.hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/3977\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.hedgeco.net\/news\/wp-json\/wp\/v2\/media?parent=3977"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.hedgeco.net\/news\/wp-json\/wp\/v2\/categories?post=3977"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.hedgeco.net\/news\/wp-json\/wp\/v2\/tags?post=3977"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}