Aston Martin at risk of takeover as Canadian billionaire Lawrence Stroll boosts stake
Aston Martin is under threat of a takeover by Canadian billionaire Lawrence Stroll, who plans to increase his stake in the car manufacturer by £52.5m.
Stroll's Yew Tree Consortium is aiming to purchase 75m shares in Aston Martin at a seven per cent premium, which would raise his ownership of the car manufacturer to 33 per cent, as reported by City AM.
However, the UK Takeover Code stipulates that anyone acquiring more than 30 per cent of shares in a company must make an offer to buy out the remaining shareholders.
This could potentially force Stroll, who also serves as executive chair of the firm, to take over the last remaining car manufacturer on British markets.
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