Automobiles on the market are pictured on the lot at AutoNation Toyota dealership in Cerritos, California December 9, 2015. REUTERS/Mario Anzuoni/File Photograph Purchase Licensing Rights
Oct 17 (Reuters) – U.S.-based AutoNation (AN.N) stated on Tuesday it is not going to make a proposal for Pendragon (PDG.L), simply weeks after the British automotive retailer’s high shareholder Hedin Mobility and PAG Worldwide additionally dropped their joint bid.
Pendragon had earlier this month agreed to Lithia Motors’ (LAD.N) provide of 397 million kilos ($483.82 million) for its UK motor and leasing companies.
($1 = 0.8205 kilos)
Reporting by Akshita Toshniwal in Bengaluru; Modifying by Krishna Chandra Eluri
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