Pendragon shares jump 12% on an unsolicited proposal from AutoNation

Pendragon PLC (LON: PDG) is up more than 10% this morning after it received an unsolicited cash proposal from AutoNation Inc (NYSE: AN). Pendragon inked a deal with Lithia Motors last week The 32 pence a share proposal from AutoNation values Pendragon at about £447 million ($544 million). Note that the automotive retailer has already […]