Penske Automotive Group (PAG) Enters Agreement to Acquire CarSense; Sees Immediate Accretion
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Penske Automotive Signs Agreement To Acquire CarSense
December 1, 2016 6:59 AM ESTBLOOMFIELD HILLS, Mich., Dec. 1, 2016 /PRNewswire/ -- Penske Automotive Group (NYSE: PAG), an international transportation services provider, announced today that it has signed an agreement to acquire CarSense, a stand-alone specialty retailer of used vehicles in the United States. The acquisition is expected to generate estimated annual revenue of approximately $350 million with accretion estimated to be $0.07 to $0.09 per share on an annualized basis.
CarSense has been in operation since 1997 and has five locations operating in the Philadelphia and Pittsburgh, Pennsylvania, market... More
