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https://www.linkedin.com/feed/update/urn:li:activity:6496572007109533696Cliff BanksPresident & Founder at The Banks ReportThe part of the story that's true is that GM is opening up its vendors beyond CDK (website and digital advertising). I predicted it last year that GM would make this decision. I even went as far to say it's likely CDK will sell its digital marketing group because of the negative impact it's having on earnings and the stock price. The fictional part of the story is that Cars is entertaining final bids next week. That's a joke -- it just announced the 14 days ago that it's exploring strategic alternatives. It hasn't even opened up the first round of the bidding process yet. As far as CDK buying it? It's only possible with a large influx of debt financing along with the help of a large private equity firm. It's going to take between $2.5 billion and $3 billion to land Cars. CDK today does about $2.4 billion in annual revenue (it sold $500 million in bonds last June to finance the eLead1One purchase).
https://www.linkedin.com/feed/update/urn:li:activity:6496572007109533696
Cliff Banks
President & Founder at The Banks Report
The part of the story that's true is that GM is opening up its vendors beyond CDK (website and digital advertising). I predicted it last year that GM would make this decision. I even went as far to say it's likely CDK will sell its digital marketing group because of the negative impact it's having on earnings and the stock price. The fictional part of the story is that Cars is entertaining final bids next week. That's a joke -- it just announced the 14 days ago that it's exploring strategic alternatives. It hasn't even opened up the first round of the bidding process yet. As far as CDK buying it? It's only possible with a large influx of debt financing along with the help of a large private equity firm. It's going to take between $2.5 billion and $3 billion to land Cars. CDK today does about $2.4 billion in annual revenue (it sold $500 million in bonds last June to finance the eLead1One purchase).
