Hedin Mobility, Penske Automotive and AutoNation are bidding to acquire Pendragon for £448m.

Hedin Mobility, a mobility provider, Penske Automotive, a transportation services company, and AutoNation, an American automotive retailer, are bidding to acquire Pendragon, an automotive retailer, for £448m. On September 20, 2023, Pendragon rejected the 28 pence per share offer. On September 22, 2023, Hedin Mobility and Penske Automotive made a revised offer to 32 pence per share. On September 26, 2023, AutoNation offered to acquire Pendragon for $547m. On October 17, 2023, AutoNation withdrew its offer to acquire Pendragon.