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Stock Market & Financial Investment News

News Breaks
January 22, 2013
15:59 EDTTRAKJ.P. Morgan reports 5.5% passive stake in DealerTrack
News For TRAK From The Last 14 Days
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October 2, 2015
14:19 EDTTRAKGabelli liquidates stake in DealerTrack
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October 1, 2015
09:31 EDTTRAKDealertrack completes sale of Inventory+ unit to DealerSocket for $55M
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09:15 EDTTRAKCox Automotive completes acquisition of DealerTrack
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September 29, 2015
17:52 EDTTRAKDoJ says Cox Automotive can complete DealerTrack acquisition with condition
The Department of Justice announced that it will require Cox Automotive, a subsidiary of Cox Enterprises, to divest Dealertrack Technologies's automobile dealership full-featured inventory management solution, IMS, business in order for Cox to acquire Dealertrack through an approximately $4B tender offer. The department's Antitrust Division filed a civil antitrust lawsuit in the U.S. District Court of the District of Columbia to block the proposed acquisition. At the same time the department filed a proposed settlement that, if approved by the court, would resolve the competitive concerns alleged in the lawsuit. "Cox's proposed acquisition of Dealertrack would have allowed Cox to become the dominant inventory management solution provider in the United States," said Assistant Attorney General Bill Baer of the Antitrust Division. "The divestiture will ensure that automotive dealerships in the United States continue to benefit from the competition that now exists among inventory management solution providers." Reference Link

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