Summary: AutoNation, a US-based automotive retailer, has announced that it will not be making an offer for Pendragon, a British automotive retailer, following the withdrawal of bids from other potential buyers.
AutoNation has decided not to make an offer for Pendragon, a British automotive retailer, after the withdrawal of bids from Hedin Mobility, PAG International, and Lithia Motors. Pendragon had previously agreed to Lithia Motors’ offer of 397 million pounds for its UK motor and leasing businesses. The decision by AutoNation comes as a surprise to many in the industry and leaves Pendragon’s future uncertain. This announcement reflects the challenges and uncertainties facing the global automotive industry.
Tags: AutoNation, Pendragon, automotive retailer, bid withdrawal, Lithia Motors