Pendragon PLC is no longer set to acquire the Lexus of Glendale car dealership from Texas Automobiles Leasing, in California, USA.

On March 25, Pendragon announced that it had agreed to acquire the trade and certain assets of the site, subject to completed accounts and receipt of manufacturer agreements.

The acquisition will now not be proceeding as Lexus have a right, which they will be exercising, to purchase the dealership.