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Interesting Car/Truck Manufacturer News
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<blockquote data-quote="Weather Man" data-source="post: 16600843" data-attributes="member: 137766"><p><a href="https://seekingalpha.com/news/3678445-carmax-to-buy-remaining-stake-in-edmunds" target="_blank">CarMax to buy remaining stake in Edmunds</a></p><ul> <li data-xf-list-type="ul">CarMax (NYSE:<a href="https://seekingalpha.com/symbol/KMX" target="_blank">KMX</a>) has <a href="https://seekingalpha.com/pr/18255099-carmax-to-acquire-remaining-stake-in-edmunds" target="_blank">signed a definitive agreement</a> to acquire Edmunds.</li> <li data-xf-list-type="ul">In January 2020, CarMax invested $50M to purchase a minority stake in Edmunds.</li> <li data-xf-list-type="ul">The transaction improves digital capabilities and strengthens CarMax’s role and reach across the used auto ecosystem.</li> <li data-xf-list-type="ul">In 2020, Edmunds generated unaudited revenue of ~$140M.</li> <li data-xf-list-type="ul"><strong>Transaction details: "</strong>CarMax will acquire the remaining shares of Edmunds for a purchase price that implies an enterprise value of $404M, inclusive of CarMax’s initial investment, which we expect to be paid in a combination of cash and stock".</li> <li data-xf-list-type="ul">The transaction is subject to customary closing conditions and is expected to close in June 2021.</li> <li data-xf-list-type="ul">"We expect the addition of Edmunds’ net income to be immaterial to the company’s earnings per share in fiscal 2022, with potential for significant shareholder value creation over the longer term", says CarMax.</li> <li data-xf-list-type="ul">Previously (April 1): <a href="https://seekingalpha.com/news/3678438-carmax-eps-beats-0_02-revenue-in-line" target="_blank">CarMax EPS beats by $0.02, revenue in-line</a></li> </ul></blockquote><p></p>
[QUOTE="Weather Man, post: 16600843, member: 137766"] [URL='https://seekingalpha.com/news/3678445-carmax-to-buy-remaining-stake-in-edmunds']CarMax to buy remaining stake in Edmunds[/URL] [LIST] [*]CarMax (NYSE:[URL='https://seekingalpha.com/symbol/KMX']KMX[/URL]) has [URL='https://seekingalpha.com/pr/18255099-carmax-to-acquire-remaining-stake-in-edmunds']signed a definitive agreement[/URL] to acquire Edmunds. [*]In January 2020, CarMax invested $50M to purchase a minority stake in Edmunds. [*]The transaction improves digital capabilities and strengthens CarMax’s role and reach across the used auto ecosystem. [*]In 2020, Edmunds generated unaudited revenue of ~$140M. [*][b]Transaction details: "[/b]CarMax will acquire the remaining shares of Edmunds for a purchase price that implies an enterprise value of $404M, inclusive of CarMax’s initial investment, which we expect to be paid in a combination of cash and stock". [*]The transaction is subject to customary closing conditions and is expected to close in June 2021. [*]"We expect the addition of Edmunds’ net income to be immaterial to the company’s earnings per share in fiscal 2022, with potential for significant shareholder value creation over the longer term", says CarMax. [*]Previously (April 1): [URL='https://seekingalpha.com/news/3678438-carmax-eps-beats-0_02-revenue-in-line']CarMax EPS beats by $0.02, revenue in-line[/URL] [/LIST] [/QUOTE]
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