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| Share Name | Share Symbol | Market | Type |
|---|---|---|---|
| Cox Comm CL A SC23 | NYSE:COX | NYSE | Ordinary Share |
| Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|
| 0.00 | 0.00% | 0.00 | - |
From Feb 2020 to Feb 2025
Cox Automotive Inc., the owner of brands such as Kelley Blue Book, said Monday that it has agreed to buy Dealertrack Technologies Inc. for about $3.5 billion in a move to broaden its services for the automotive industry.
The offer price of $63.25 a share is a 59% premium to Dealertrack's closing price Friday. Including things such as the assumption of debt, the deal is valued at $4 billion.
Cox, a unit of closely-held conglomerate Cox Enterprises, provides a variety of marketing and software services for the automotive industry. In addition to Kelley Blue Book, its brands include Autotrader and Manheim.
Dealertrack has a portfolio of Web-based software services, including a credit application network and inventory and registration software.
The deal is expected to close in the third quarter of the year.
Dealertrack's shares, down 10% this year, were halted in premarket trading.
Write to Chelsey Dulaney at Chelsey.Dulaney@wsj.com
Access Investor Kit for Dealertrack Technologies, Inc.
Visit http://www.companyspotlight.com/partner?cp_code=P479&isin=US2423091022
Subscribe to WSJ: http://online.wsj.com?mod=djnwires
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