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12/5/2019, 12:16 PM (Source: TeleTrader)
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Aston Martin soars on reports of billionaire bid

Shares of Aston Martin soared over 10% on Thursday on reports Canadian billionaire Lawrence Stroll is planning to launch a bid for a major stake in the carmaker. The news was reported by Autocar after it carried out a joint investigation with RaceFans.net. Neither Aston Martin nor Stroll commented on the reports.

According to Forbes, Stroll is said to be worth around $2.6 billion. He is also a part-owner of Formula 1 team Racing Point and is the father of Formula 1 driver Lance Stroll.

Aston Martin rallied 10.50% to 553 pence at 11:56 am CET. However, the stock is still significantly below the carmaker's initial public opening (IPO) price of £19 per share from earlier this year.

Breaking the News / NP