Northgate to takeover Redde, plans new vehicle renting firm
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(Reuters) - Struggling British company Northgate Plc said on Friday it would buy peer Redde , in what would create one of Britain's largest vehicle rental services firm. The merged company Redde Northgate will be 54% owned by Northgate shareholders and the remaining 46% by Redde, the companies said, and each Redde shareholder will get 0.3669 new Northgate shares for each Redde share.