FORT LAUDERDALE, Fla., April 19 /PRNewswire-FirstCall/ -- AutoNation,
Inc. (NYSE: AN), America's largest automotive retailer, announced today the
final results of its tender offer to purchase 50 million shares of the
Company's common stock at a price of $23 per share, which expired at 10:00
a.m., New York City time, on April 12, 2006.
Based on the final tabulation by Computershare Trust Company of New
York, the depositary for the tender offer, 187,228,678 shares of common
stock were properly tendered and not withdrawn, excluding any conditional
tenders that were not accepted due to the specified condition not being
satisfied. The depositary has informed the Company that, after giving
effect to the priority for "odd lots" and the exclusion of conditional
tenders not accepted, the final proration factor is approximately 26.412%.
The depositary will promptly issue payment for the 50 million shares
validly tendered and accepted for purchase and will return all other shares
tendered and not accepted for purchase.
J.P. Morgan Securities Inc. and Banc of America Securities LLC acted as
dealer managers for the tender offer, and Innisfree M&A Incorporated served
as the information agent. For questions and information about the tender
offer, please contact the information agent toll free at (877) 825-8631.
About AutoNation
AutoNation, Inc., headquartered in Fort Lauderdale, Fla., is America's
largest automotive retailer and a component of the Standard and Poor's 500
Index. AutoNation has approximately 27,000 full-time employees and owns and
operates 346 new vehicle franchises in 17 states.
Certain statements and information included in this press release
constitute "forward-looking statements" within the meaning of the Federal
Private Securities Litigation Reform Act of 1995. Such forward-looking
statements involve known and unknown risks, uncertainties and other factors
which may cause the actual results, performance or achievements of
AutoNation to be materially different from any future results, performance
or achievements expressed or implied in such forward-looking statements.
Additional discussion of factors that could cause actual results to differ
materially from management's projections, estimates and expectations is
contained in AutoNation's SEC filings. AutoNation undertakes no duty to
update its forward-looking statements. Notwithstanding any statement in
this press release to the contrary, the safe harbor protections of the
Private Securities Litigation Reform Act of 1995 do not apply to statements
made in connection with a tender offer.
SOURCE AutoNation, Inc.
 back to top
Related links:
http://corp.autonation.com
Photo Notes:
NewsCom: http://www.newscom.com/cgi-bin/prnh/20060419/NYW041
PRN Photo Desk, photodesk@prnewswire.com
http://www.prnewswire.com/comp/750525.html /
CONTACT:
Marc Cannon, of AutoNation, Inc.,
+1-954-769-3146, cannonm@autonation.com
|
