$3.7 Billion for ADESA

ADESA Inc. (NYSE: KAR), a provider of wholesale vehicle auctions and used vehicle dealer floor-plan financing, has agreed to be acquired for $3.7 billion (including $700 million in assumed debt). Buyers include Kelso & Co., GS Capital Partners, ValueAct Capital and Parthenon Capital. ADESA shareholders will receive $27.85 per share, or a 10% premium to yesterday’s closing price.