AutoNation withdraws from pursuit of Pendragon PLC, will not make formal offer

AUTONATION, INC.

AutoNation confirms it does not intend to make an offer for Pendragon PLC after preliminary non-binding proposal on Sept 26.
CEO Mike Manley cites further consideration of opportunity; company may still pursue M&A inside and outside U.S.
AutoNation reserves right to participate in future offer under U.K. Takeover Code within six months if conditions met.

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