According to a report by the Wall Street Journal, Roger Penske, owner of Penske Automotive Group, is considering making a bid for Saturn. Sources familiar with Penske’s plans said that he is studying the issue very closely but no proposal has been made as of yet.
The Penske Automotive Group is the second group to show interest in Saturn that the media has learned about. Last month, Telesto Ventures said it wanted to acquire Saturn’s retail operations and provide dealers with GM vehicles through 2011 – after 2011 it will fill dealerships with overseas makes.
Penske Automotive Group ranks no.2 behind AutoNation on the list of Automotive News list of the top 125 U.S. auto retailers.
GM said yesterday that it is ”proceeding to the next step with respect to the sale of Saturn.” It said it is working with S.J. Girsky&Co. for the transaction.
- By: The Daily Auto Edtior
Source: WSJ via (Automotive News)
