Billionaire Lawrence Stroll is reportedly leading a consortium of investors aiming to take control of Aston Martin.
Autocar reports the 60 year old business man – who made his fortune in fashion by investing in brands such as Ralph Lauren, Tommy Hilfiger and Pierre Cardin – wants to take advantage of Aston Martin’s low stock price. The company’s stock has been in the single digits since August and it’s a bargain compared Ferrari stock which currently sits at $167.27 a share.
The investors apparently believe Aston Martin is undervalued and is in a good position for the future. It’s hard to argue with the latter as the company has launched an assortment of new products in past few years including the DB11, DBS Superleggera and Vantage. Of course, the company also unveiled the DBX crossover last month and it’s poised to be a runaway hit that helps to increase sales and profitability.
Also Read: The 2020 Aston Martin DBX Is A Sexy Utility Vehicle With 542 HP
This makes Aston Martin an appealing investment opportunity, but it remains unclear why the consortium wants to take control of the automaker and what they intend to do with it. The latter could make fans nervous as investors haven’t always been automakers. In particular, Cerberus’ ownership of Chrysler was an unmitigated disaster that ultimately lead to bankruptcy during the Great Recession.
However, Stroll is noted car enthusiast as he owns the Racing Point F1 team and reportedly has one of the most valuable collections of classic Ferraris in the world. This suggests Aston Martin could be in good hands if the takeover happens, but that’s a big if.
Stroll and Aston Martin haven’t commented on the report, and it remains unclear when a move could happen. However, Autocar noted Aston Marin is “bound by strict regulations when it comes to official announcements regarding the stock market, and would be forced to confirm if a formal takeover bid had been launched.” That suggests is rumored bid hasn’t been launched yet.
