Penske Automotive, Hedin Mobility Group confirm no offer for Pendragon PLC

PENSKE AUTOMOTIVE GROUP, INC.

On Sept 20, 2023, Penske subsidiary PAG Intl and Hedin Mobility submitted non-binding proposal to acquire Pendragon.
On Oct 4, 2023, PAG Intl and Hedin issued Rule 2.8 announcement confirming no intention to make an offer.
They are bound by restrictions but reserve rights if Pendragon board agrees, third party makes offer, or material change.

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