Automotive Holdings Group's $2.3 billion takeover from rival AP Eagers is set to go through, after AHG urged its shareholders to accept a revised offer from AP.
AP Eagers has acquired a provisional majority stake in Automotive Holdings Group, just a week after AHG told shareholders not to accept the offer until it released its target statement on May 8.
AP Eagers has increased its interest in Automotive Holdings Group by 9.15 per cent, as the takeover target appointed a former KPMG and Ernst and Young partner as its new chairman.
