Key Developments: AutoNation Inc (AN)
26 Dec 2014
Latest Key Developments (Source: Significant Developments)
AutoNation Inc to acquire Barrier Motors Premium Luxury Group in Seattle-Bellevue, Washington Market
AutoNation Inc:Announces that it has signed agreements to acquire Audi, Mercedes-Benz, Porsche and Volvo stores in the Seattle-Bellevue market from Barrier Motors.Upon completion of the transaction, AutoNation will own and operate 22 franchises in the state of Washington, including 13 franchises in the Seattle-Bellevue market.Transactions are subject to customary terms and conditions, including manufacturer approval, and are expected to close in the fourth quarter 2014. Full Article
AutoNation Inc:Appointed Cheryl Scully to the position of executive vice president and chief financial officer, effective March 3. Full Article
Autobytel Inc:Says it has acquired Ft. Lauderdale-based AutoUSA from AutoNation, Inc.Says the price included $10.0 mln in cash, a $1.0 mln, 6% convertible note payable in one lump sum in five years and convertible to Autobytel common stock at a conversion price reflecting a 20% premium over the price of Autobytel`s common stock on the date of closing.Says the transaction was financed by Union Bank, N.A. Full Article
DETROIT - AutoNation Inc shares on Tuesday jumped nearly 7 percent after the company exceeded Wall Street expectations with a 15 percent increase in third-quarter earnings and its chief executive said U.S. auto sales will continue to rise in 2015.