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Monday, Jul 29
Penske to acquire Western Star Trucks Australia
- Penske (PAG +0.9%) will pay $200M for the distributor of commercial vehicles, related spare parts and aftermarket support.
- The transaction should close in Q3.
- The deal will bring in $420-460M in annual revenue, will be "$0.10-0.14 accretive on an annualized basis," and will result in $0.02/ share in acquisition costs next quarter.