Jardines unit, Ford in bid for Dagenham Motors dealership

Jardine International Motors Holdings and Ford Motor yesterday announced a bid of about GBP30 million (about HK$390.72 million) for Dagenham Motors, one of the largest Ford dealerships in Britain. Dagenham said it was recommending the 160 pence per share offer, which was still subject to due diligence and a number of undisclosed pre-conditions. Trading conditions have become increasingly difficult for Dagenham and yesterday it warned that its full-year profits would be below last year's.