UPDATE 2-UK's Pendragon gets $544 million takeover proposal from AutoNation
(Adds AutoNation's confirmation in paragraph 3)
Sept 26 (Reuters) - British automotive retailer Pendragon said on Tuesday it received an unsolicited proposal from AutoNation for about 447 million pounds ($544.2 million) in cash.
The 32 pence-per-share offer comes days after Pendragon's top shareholder Hedin Mobility Group and U.S.-based PAG International sweetened their joint proposal to buy the company following a rejection of their previous bid.
Pendragon said its board will consider AutoNation's proposal, which was later confirmed by the U.S.-based company in a regulatory filing on Wednesday.
Last week, Pendragon said it would sell its UK motor and leasing businesses to Lithia Motors for 250 million pounds and enter a strategic partnership for the expansion of its dealer management software business to North America.
($1 = 0.8214 pounds)
(Reporting by Anandita Mehrotra and Saikeerthi in Bengaluru; Editing by Devika Syamnath and Bill Berkrot)
