Saturn Dealers join Penske, Magna in General Motors' Saturn Firesale
The pursuit for Saturn continues. There are two or three entities bidding for Saturn. One is autodealer Penske; one is thought to be Canadian auto parts manufacturer Magna International; and one is Telesto Ventures, which includes an Oklahoma City based equity firm Black Oak Partners as well as several Saturn dealers. It is said that all three bidders are out for the dealer network and are hoping to develop partnerships with manufacturers. General Motors has said that it hopes to conclude a deal for Saturn by the third quarter of this year. via Detroit News
The National Highway Traffic Safety Administration (NHTSA), the federal government agency that has...