Lookers has announced the acquisition of Benfield Motors for £87.5m. This is an excellent transaction, the largest in the sector for some time, and will be immediately earnings enhancing. We have upgraded our current year EPS forecast by 5.1% (part year benefit) and next year’s EPS forecast by 12.5%. There is a clear route to value creation with the MD of the Motor Division having previously run Benfield, and a high level of confidence in management’s integration plan and future synergies. Using ....
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- Published:
04 Sep 2015 -
Author:
Matthew McEachran -
Pages:
7
Lookers has announced the acquisition of Benfield Motors for £87.5m. This is an excellent transaction, the largest in the sector for some time, and will be immediately earnings enhancing. We have upgraded our current year EPS forecast by 5.1% (part year benefit) and next year’s EPS forecast by 12.5%. There is a clear route to value creation with the MD of the Motor Division having previously run Benfield, and a high level of confidence in management’s integration plan and future synergies. Using ....