Last $74.67 USD
Change Today +0.81 / 1.10%
Volume 269.6K
ABG On Other Exchanges
Symbol
Exchange
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As of 8:04 PM 11/21/14 All times are local (Market data is delayed by at least 15 minutes).

asbury automotive group (ABG) Snapshot

Open
$75.33
Previous Close
$73.86
Day High
$75.45
Day Low
$74.00
52 Week High
11/12/14 - $76.33
52 Week Low
02/3/14 - $45.31
Market Cap
2.2B
Average Volume 10 Days
260.2K
EPS TTM
$4.56
Shares Outstanding
29.8M
EX-Date
10/30/08
P/E TM
16.4x
Dividend
--
Dividend Yield
--
Current Stock Chart for ASBURY AUTOMOTIVE GROUP (ABG)

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asbury automotive group (ABG) Details

Asbury Automotive Group, Inc. operates as an automotive retailer in the United States. It offers a range of automotive products and services, including new and used vehicles; vehicle maintenance, replacement parts, and collision repair services; and aftermarket products, such as financing, insurance, and service contracts. The company sells new vehicles to individual retail customers and commercial customers; and used vehicles to individual retail customers and other dealers at auction. As of October 21, 2014, it operated 81 dealership locations, including 102 franchises for the sale and servicing of 29 brands of new vehicles, as well as 24 collision repair centers and 2 standalone used vehicle stores. Asbury Automotive Group, Inc. was founded in 1995 and is headquartered in Duluth, Georgia.

7,600 Employees
Last Reported Date: 02/25/14
Founded in 1995

asbury automotive group (ABG) Top Compensated Officers

Chief Executive Officer, President, Director ...
Total Annual Compensation: $916.7K
Executive Vice President and Director
Total Annual Compensation: $700.0K
Vice President, General Counsel and Secretary
Total Annual Compensation: $344.2K
Compensation as of Fiscal Year 2013.

asbury automotive group (ABG) Key Developments

Asbury Automotive Group, Inc. Announces Private Offering of $400 Million of Senior Subordinated Notes Due 2024

Asbury Automotive Group, Inc. announced the commencement of an offering of $400.0 million aggregate principal amount of senior subordinated notes due 2024 in a private placement that is exempt from the registration requirements of the Securities Act of 1933. The 2024 notes will be guaranteed by all of the company's existing subsidiaries and certain future subsidiaries. The company intends to use the net proceeds from the offering of 2024 notes to purchase any and all of the company's outstanding 8.375% senior senior subordinated notes due 2020 hat are tendered pursuant to the company's cash ender offer and consent solicitation for any and all 2020 notes commenced on November 19, 2014.

Asbury Automotive Group, Inc. Announces Cash Tender Offer and Consent Solicitation

Asbury Automotive Group, Inc. announced that it has commenced a cash tender offer for any and all of its $300 million outstanding principal amount of 8.375% Senior Subordinated Notes due 2020. The company also announced a concurrent consent solicitation from each holder of 2020 Notes for proposed amendments to the indenture under which the 2020 Notes were issued. The Offer is being made on the terms and subject to the conditions in the Offer to Purchase and Consent Solicitation Statement dated November 19, 2014, and the related Letter of Transmittal and Consent. Holders that tender their Notes in the applicable tender offer will be deemed to have consented to the proposed amendments to the indenture governing the 2020 Notes. Holders who validly tender their 2020 Notes and validly deliver their consents at or prior to 5:00 p.m., New York City time, on December 3, 2014, unless extended or earlier terminated by the Company will be eligible to receive total consideration of $1,114.29 per $1,000 principal amount of 2020 Notes, which includes a consent payment of $30.00 per $1,000 principal amount of 2014 Notes tendered. Such payment is expected to be made on December 4, 2014. Holders who validly tender their 2020 Notes after the Consent Payment Deadline but prior to 8:00 a.m., New York City time, on December 18, 2014 will not be eligible to receive the Total Consideration, but will be eligible to receive the tender offer consideration of $1,084.29 per $1,000 principal amount of 2020 Notes tendered. Such payment is expected to be made on December 18, 2014. Holders who validly tender their 2020 Notes also will be paid accrued and unpaid interest up to, but not including, the date of payment for the tendered 2020 Notes. The company's obligation to accept for purchase, and to pay for, 2020 Notes and consents validly tendered and not validly withdrawn pursuant to the Offer is conditioned upon the satisfaction or waiver of certain conditions, including a majority in outstanding principal amount of 2020 Notes having been validly tendered and consents with respect thereto having been validly delivered pursuant to the Offer. The Offer is conditioned upon the Company having completed a debt financing transaction in an amount of at least $350 million on terms acceptable to the Company at or prior to the Expiration Time. The company currently intends, but it is not obligated, to redeem any 2020 Notes that remain outstanding after the completion of the Offer. Tendered 2020 Notes may be withdrawn and consents may be revoked before 5:00 p.m., New York City time, on December 3, 2014, but not thereafter unless otherwise required by law. Any extension or termination of the Offer will be followed as promptly as practicable by a public announcement thereof. The company has engaged BofA Merrill Lynch to act as dealer manager for the Tender Offer and solicitation agent in connection with the Consent Solicitation.

ABG Eyes Acquisitions

Asbury Automotive Group, Inc. (NYSE:ABG) is looking for acquisition opportunities. ABG announces private offering of $400 million of senior subordinated notes due 2024. ABG intends to use the net proceeds for general corporate purposes, which may include, among other things, share repurchases and acquisitions.

 

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ABG

Industry Average

Valuation ABG Industry Range
Price/Earnings 17.9x
Price/Sales 0.4x
Price/Book 4.2x
Price/Cash Flow 14.6x
TEV/Sales 0.2x
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