NEW YORK TIMES
COMPANY NEWS; Britain in Talks To Sell Off Rover
Published: December 3, 1986
The British Government said it was talking to two concerns about a possible bid for Rover, its ailing truck and van manufacturer. Trade and Industry Minister Paul Channon told Parliament that Rover, the Government-run concern formerly known as British Leyland, was in the early stages of negotiations with Paccar Inc., a Bellevue, Wash-based maker of heavy-duty vehicles and railroad cars, and the Dutch car maker DAF. But he said that to give further details might prejudice the interests of Rover employees and suppliers.
The attempt by the British Government and the Rover management to find a buyer for the concern’s truck and van division has continued for much of this year, prompted by heavy overcapacity in Europe. News of the two fresh bids comes a year after the General Motors Corporation attempted a takeover of Rover’s truck and van division. The bid collapsed last March after a public outcry over American companies’ stake in British industry.