Penske-Hedin bid for Pendragon rejected after Lithia acquisition announcement

Penske-Hedin bid for Pendragon rejected after Lithia acquisition announcement

Days after Lithia Motors Inc. said it had agreed to a deal to acquire Pendragon’s dealership and fleet businesses, Pendragon’s board of directors rejected a joint offer from a Penske Automotive Group subsidiary and Hedin Mobility Group.

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