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Saturn enters the Penske orbit

Posted Jun 7th 2009 2:10PM by Tom Taulli (RSS feed)
Filed under: Deals, Competitive Strategy, General Motors (GM)

Back in the 1950s, Roger Penske not only raced cars, but he also sold them. And, when he retired in 1965, he focused on his business interests, creating an empire. Now, there is Penske Auto (NYSE: PAG), which operates a chain of auto dealers, a truck leasing operation, and a high-performance car operation.

Well, this week the empire got even bigger; that is, Penske agreed to purchase the Saturn unit from General Motors. Terms of the deal were not disclosed.

Continue reading Saturn enters the Penske orbit

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