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Penske, Renault Likely Bidders for Saturn (Visit this link)
John D. Stoll and Norihiko Shirozu from the Wall Street Journal: Foreign bidders are lining up to pick off parts of General Motors as the contraction of the U.S. auto industry sets the stage for a global reshuffling. French auto maker Renault SA has opened discussions about possibly supplying cars to be sold through GM's Saturn dealers, if GM lines up an owner for the Saturn network, people familiar with the matter said. Renault is holding discussions with Penske Automotive Group, a chain of about 300 auto dealerships world-wide that is in talks with GM about acquiring Saturn, people familiar with the matter said. If Penske takes over Saturn, it will need an auto maker to supply vehicles to be sold through the about 400 Saturn dealers across the U.S. A GM deal with Penske could allow Renault to sell its own vehicles or those made by its affiliates through the Saturn network.
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