DETROIT (Reuters) - Penske Automotive Group said on Wednesday it has terminated discussions with General Motors Co to acquire the automaker's Saturn brand.
GM said in a separate statement it would wind down the Saturn brand and its dealership network.
Penske, which reached a preliminary deal to buy Saturn in June, said it broke off the talks due to concerns that it might be unable to source vehicles beyond the supply period it had negotiated with GM.
Wednesday, September 30, 2009
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