Sonic Automotive's acquisition to propel it to top 5 U.S. auto dealers

US Automotive Manufacturing

22/09/2021 15:37

** U.S. automotive retailer Sonic Automotive  SAH.N  shares
rise 2.9% to $55.35 
    ** Co to acquire auto retailer RFJ Auto Partners
    ** Deal expected to propel SAH into top-five largest dealer
groups in the U.S. as measured by total revenue - co says
 urn:newsml:reuters.com:*:nBwbpdr1Ha
    ** Deal adds six incremental states to SAH's geographic
coverage and five additional brands -SAH 
    ** Co expects to add $3.2 billion in annualized revenue
after deal that is expected to close in December 2021
    ** 5 of 7 brokerages rate the stock "buy" or higher, 2
"hold"; their median PT is $65
    ** Shares up 39.4% YTD

 (Reporting by Kannaki Deka in Bengaluru)
 ((Kannaki.Deka@thomsonreuters.com))