- Roadside assistance company AA said they had reached an agreement with TowerBrook and Warburg Pincus consortium on a £219 million takeover of the company.

Under the terms of the acquisition, AA shareholders would receive 35 pence a share.

AA said it considered the terms of the offer to 'be fair and reasonable.'

The company said about shareholders, representing about 15.5% of its total shares, had backed the takeover offer. The deal required the backing of the majority, about 75%, of shareholders.

The acquisition was expected to be completed in the first quarter of 2021.

At 8:39am: [LON:AA.] AA Plc share price was 0p at 28.8p

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