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KAR Auction Services (KAR)

  • Nov. 14, 2012, 5:28 AM
    KAR Auction Services (KAR) has ended its attempts to sell itself following the breakdown of negotiations with P-E firm Clayton Dubilier & Rice over price and other transaction terms, Reuters reports. The vehicle auction company, which has a market cap of $2.38B, is 78%-owned by a group of P-E firms, including Goldman Sachs Capital Partners (GS).
    | Nov. 14, 2012, 5:28 AM | Comment!
  • Sep. 12, 2012, 12:50 PM
    KKR, Apollo Global (APO), and Clayton Dubilier & Rice are considering a buyout of KAR Auction (KAR +1%) in what potentially could be a $4B deal. The discussion is in the early stages, after KAR hired Evercore Partners to solicit offers. A deal may be hard to come by however, as KAR's price has been rallying on buyout chatter and skewing the math. The stock is up more than 10% since August 22, when news of a potential sale broke.
    | Sep. 12, 2012, 12:50 PM | 1 Comment
  • Aug. 22, 2012, 3:45 PM
    KAR Auction Services (KAR +5.4%) has approached PE firms to discuss a possible sale of the company in a deal that could top $4B, Reuters reports. KAR, through its used car wholesale auctions arm ADESA, is the no. 2 U.S. vehicle auction company behind Cox Enterprises' Manheim unit.
    | Aug. 22, 2012, 3:45 PM | Comment!
  • Aug. 16, 2011, 1:18 PM
    KAR Auction Services (KAR +3.7%) trades higher after it purchases auto remarketer Openlane (OPNN +0.7%) for $210M in an all-cash deal, as the auctioneer of used and damaged vehicles aims to boost its online product offerings.
    | Aug. 16, 2011, 1:18 PM | Comment!
Company Description
KAR Auction Services Inc is provider of vehicle auction services in North America. It facilitates a marketplace providing auction services for sellers of used and salvage vehicles through physical auction locations and various Internet websites.
Sector: Services
Country: India