Item 7.01 Regulation FD Disclosure.
On October 18, 2021, AutoNation, Inc. ("AutoNation" or the "Company") announced
that, on October 12, 2021, it entered into a commercial arrangement with Caliber
Holdings LLC ("Caliber") to transfer ownership of up to 17 of the Company's
collision centers to Caliber and to enter into a long-term agreement pursuant to
which certain AutoNation stores will continue to sell parts and refer business
to those collision centers following the closing of the transaction. The 17
collision centers represented in the aggregate less than 0.5% of the Company's
total gross profit for the six months ended June 30, 2021. The transaction is
subject to the satisfaction of customary closing conditions and is expected to
close in the fourth quarter of 2021. AutoNation remains committed to its
collision business and, following the closing of the transaction, will continue
to own and operate the largest collision center footprint among its automotive
retail peers with 55 collision centers located from coast-to-coast, including
the collision center that the Company recently acquired in Hilton Head, SC.
Forward-Looking Statements
This report contains forward-looking statements within the meaning of Section
27A of the Securities Act of 1933, as amended, and Section 21E of the Securities
Exchange Act of 1934, as amended. All statements other than statements of
historical fact are, or may be deemed to be, forward-looking statements.
Statements regarding pending transactions, including the transaction described
above, are forward-looking statements. The Company's forward-looking statements
reflect its current expectations concerning future results and events, and they
involve known and unknown risks, uncertainties, and other factors that are
difficult to predict. These risks, uncertainties, and other factors include,
among others, the ability of each party to satisfy applicable closing conditions
to the pending transaction, including the receipt of certain required consents
and approvals from third parties, as well as other factors described in the
Company's news releases and filings made under securities laws, including, among
others, Annual Reports on Form 10-K, Quarterly Reports on Form 10-Q, and Current
Reports on Form 8-K. Forward-looking statements contained in this report speak
only as of the date of this report, and the Company undertakes no obligation to
update these forward-looking statements to reflect subsequent events or
circumstances.
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