Toyota Motor Co. exercised its right of first refusal to stop a Lexus dealership in Glendale, Calif. from being acquired by the U.K.’s Pendragon Plc., industry sources confirm. The dealership was instead awarded to the General Manager of a another local Lexus dealership, say the sources.
The failure of Pendragon PLC to acquire Lexus of Glendale was reported in AMonline here:
