Cars.com Announces Review of Strategic Alternatives to Enhance Shareholder Value
January 16, 2019 at 10:02 pm
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On January 16, 2019, Cars.com Inc. announced that it has been conducting a process to explore strategic alternatives to enhance shareholder value. The Company stated that the Board authorized management and its external advisors to initiate such a process at its September 28 meeting, and it has since been considering a broad range of strategic alternatives including a potential sale of the Company. In addition, the Company stated that the strategic alternatives review process would result in a sale of the Company or other strategic change or outcome. Further, the Company stated that it has not set a timetable for the conclusion of its review of strategic alternatives, and it does not intend to comment further unless and until the Board has approved a specific course of action or the Company has otherwise determined that further disclosure is appropriate or required by law.
Cars.com Inc., doing business as Cars Commerce Inc., is an audience-driven technology company. It is engaged in car buying and selling with products, solutions and artificial intelligence (AI)-driven technologies that span pretail, retail and post-sale activities. The Cars Commerce platform is organized around four brands: the flagship automotive marketplace and dealer reputation site Cars.com, digital retail technology and marketing services from Dealer Inspire, essential trade-in and appraisal technology from AccuTrade, and media solutions from the Cars Commerce Media Network. It enables shoppers with the data, resources and digital tools needed to make informed buying decisions and connect with automotive retailers. Cars.com enables dealerships and original equipment manufacturers with solutions and data-driven intelligence. Its products and solutions have attracted approximately 19,500 franchise and independent dealer customers across the United States and Canada to its platform.
CARS.COM INC. 
