Lookers set for £400 million takeover by Canada's Alpha Auto, reports Sky News

Mark "The Kleinmnator" Kleinman of Sky News has popped up this evening with a decent scoop.

According to Kleiny, a Canadian company called Alpha Auto Group is on the verge of purchasing London-listed car dealer Lookers

Alpha Auto Group is said to be willing to pay around 120p a share for Lookers. The way the story is written suggests this deal could be announced tomorow morning as a recommended offer.