Fleet News

Talk turns to AA takeover

THE Automobile Association this week joined RAC Motoring Services at the centre of takeover speculation. The RAC is considering about five bids for its motoring services arm after a second round of bidding closed on Monday, with Ford thought to be in the driving seat, but this week it was claimed that several offers have also been made for its rival, the AA.

In a statement on Tuesday, the AA said: 'The AA has always kept an open mind about its structure and it is understandable speculation should arise following the dramatic changes in the breakdown market. However, we will not comment on speculation.'

Meanwhile, RAC executives will be now considering the bids they have received for their motoring services division, which are also thought to include offers from Lex Service and Centrica and venture capital companies PPM Venture and BC Partners. A decision is expected to be made early in May whether one of the bids, said to range from £375 million to £400 million, will be accepted instead of the company being floated on the stock market.

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