Reuters: Penske considering sale of Truck-Lite for $1B

• Penske Automotive (PAG +1.5%) is exploring a sale of its Truck-Lite unit in a deal that could approach $1B, and has hired Robert W. Baird to run an auction, Reuters reports.
• Truck-Lite manufactures lighting and safety accessories for the heavy-duty truck, trailer and commercial vehicle industries, and has annual EBITDA of ~$100M.