MichiganRadio

GM, Penske Reach Tentative Saturn Deal ANN ARBOR, MI (Michigan Radio) - GM and racing legend Roger Penske signed a tentative deal called a "Memorandum of Understanding."

If the transaction is completed, Penske would take over the Saturn brand and all distribution operations related to Saturn.

Jim Hall is managing director of 2953 Analytics. He says the tentative deal is a win-win for both parties.

For the Saturn dealers it allows them to stay in business. "For GM," says Hall, "it also is going to keep the facilities where they build 3 Saturn vehicles building Saturn vehicles for probably a little more time than if they had liquidated Saturn."

Penske plans to offer all 350 dealerships new franchise agreements, and preserve around 13,000 Saturn jobs. © Copyright 2012, Michigan Radio