AutoNation drops bid for UK auto dealer Pendragon

Lithia Motors

17/10/2023 18:27

Oct 17 (Reuters) - U.S.-based AutoNation  AN.N  said on
Tuesday it will not make an offer for Pendragon  PDG.L , just
weeks after the British automotive retailer's top shareholder
Hedin Mobility and PAG International also dropped their joint
bid. 
    Pendragon had earlier this month agreed to Lithia Motors'
 LAD.N  offer of 397 million pounds ($483.82 million) for its UK
motor and leasing businesses. 
    
($1 = 0.8205 pounds)

 (Reporting by Akshita Toshniwal in Bengaluru; Editing by
Krishna Chandra Eluri)
 ((Akshita.Toshniwal@thomsonreuters.com;))