ESL buys more shares of AutoNation

By Lisa Kerner

Charlotte, N.C., Nov. 27 - AutoNation, Inc. investors led by ESL Partners, LP bought an additional 2,874,615 shares of the company's stock between Nov. 13 and Nov. 26 for a total of approximately $47.57 million using working capital.

The transactions were reported in a schedule 13D filing with the Securities and Exchange Commission.

ESL and the reporting persons own 55,298,055 shares, or 30.0%, of the Fort Lauderdale, Fla., auto retailer, up from the 28.5% stake in the company reported on Nov. 8.

It was previously reported that ESL may "continue to communicate with the board of directors, members of management and/or other stockholders from time to time with respect to operational, strategic, financial or governance matters or otherwise work with management and the board of directors to create stockholder value."

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