Bill Gates buys more shares of AutoNation for 12.2% ownership interest

By Lisa Kerner

Charlotte, N.C., Feb. 5 - Bill Gates' Cascade Investment, LLC and the Bill & Melinda Gates Foundation Trust each purchased a total of 50,000 shares of AutoNation, Inc. on Jan. 7 for a total purchase price of $500,482.50, respectively, using working capital.

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

Gates beneficially owns 21,557,788 shares, or 12.2%, of the Fort Lauderdale, Fla., auto retailers' outstanding stock.

According to the filing, Gates and his affiliates have discussed and may continue to discuss AutoNation's business and strategic direction with management. The investors may also discuss the company's operations and opportunities to enhance shareholder value with other stockholders.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.