BMW Wooed By New Offer
What seemed like a done deal has been thrown into fresh doubt after a counter bid for Rover. The move puts a Midlands entrepreneur head-to-head with Alchemy Partners. Computer millionaire John Hemmings claimed he had support from backers willing to save Longbridge. BMW has said it will consider other offers, but the move has only added to the uncertainty facing Rover. Meanwhile the future of Rover concepts, including the 75 Sport and MGF Super Sports, is still unclear. Alchemy warned it was too early to say what would happen to them, although the venture capitalist firm has appointed senior staff at the MG Car Company, including Chris Woodwark as chief executive. He has previously worked for British Leyland, Land Rover, Chrysler and Rolls-Royce. Meanwhile, Trade Secretary Stephen Byers has met with BMW bosses, who have pledged to minimise job losses.
Article Date: Mar 29, 2000