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Penske Likely to Buy Saturn (Visit this link)
Robert Snell from the Detroit News: A group headed by Detroit auto tycoon Roger Penske is the likely buyer of the Saturn brand and dealer network. "Negotiations are literally going around the clock and we hope to have something to announce soon, but there is nothing to announce today," Saturn spokesman Steve Janisse said. The Saturn negotiations involve pairing parties interested in Saturn's dealer network with one or more auto manufacturers interested in supplying vehicles that could be sold under the Saturn name. Saturn had narrowed the list of potential bidders from about 12 to "two or three," according to a source familiar with the talks. At least one of the finalists is considering using Mitsubishi, and possibly others manufacturers, to provide vehicles. Penske could form a venture with Nissan, the Japanese affiliate of Renault.
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