Aston Martin: Worth $980 million?
Strong competition in the bidding to purchase Aston Martin has pushed the acquisition price above 500 million pounds (aproximately $980 million) last month, according to the British newspaper, The Observer. Still in the fight for the company are a consortium led by James Packer, Australia’s richest man; Permira; and Doughty Hanson. The car company has been valued at between 350 million ($686 million) and 1 billion pounds ($1.96 billion). However, that price may be forced down by a pension deficit. The current owner of Aston Martin, Ford, offered to sell the British car maker last year as part of a restructuring project to combat record losses. The first round of bids were accepted at the end of last year. (Editor's Note: Motor Trend blog posts about French company LVMH as a possible buyer as well.) Via icCoventry
On the surface, people purchase cars for transportation.