LONDON, Jan 27 (Reuters) - British car dealer Pendragon Plc said on Friday it had appraoched rival Lookers Plc about a possible three-way consolidation of the two companies and a third car dealer, Reg Vardy Plc . Pendragon said in a statement the proposed deal would "be effected through the existing cash offer by Pendragon for Reg Vardy at a price of 800 pence per Reg Vardy share and a share exchange offer by Pendragon for the entire issued share capital of Lookers".