{"id":379123,"date":"2020-11-11T17:38:13","date_gmt":"2020-11-11T22:38:13","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=379123"},"modified":"2020-11-11T17:38:13","modified_gmt":"2020-11-11T22:38:13","slug":"consumer-portfolio-services-board-of-directors-unanimously-rejects-unsolicited-indication-of-interest-from-auto-experience-inc","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/consumer-portfolio-services-board-of-directors-unanimously-rejects-unsolicited-indication-of-interest-from-auto-experience-inc\/","title":{"rendered":"Consumer Portfolio Services\u2019 Board of Directors Unanimously Rejects Unsolicited Indication of Interest from Auto Experience Inc."},"content":{"rendered":"<div class=\"mw_release\">\n<p>LAS VEGAS, Nov.  11, 2020  (GLOBE NEWSWIRE) &#8212; Consumer Portfolio Services, Inc. (Nasdaq: CPSS) (\u201cCPS\u201d or the \u201cCompany\u201d) today announced that its board of directors unanimously rejected Auto Experience Inc.\u2019s (\u201cAEI\u201d) unsolicited indication of interest in acquiring the Company.\u00a0<\/p>\n<p>After careful review and consideration, the CPS board concluded that AEI\u2019s indicated price of $135 million grossly undervalues the Company. Taking into account the Company\u2019s long-term prospects, the board determined that pursuing such a transaction would not be in the best interests of the Company\u2019s shareholders. In addition, the CPS board does not believe that AEI\u2019s indication of interest is credible.<\/p>\n<p align=\"justify\">\n        <strong><br \/>\n          <em>About Consumer Portfolio Services, Inc.<\/em><br \/>\n        <\/strong>\n      <\/p>\n<p>Consumer Portfolio Services, Inc. is an independent specialty finance company that provides indirect automobile financing to individuals with past credit problems, low incomes or limited credit histories. CPS purchases retail installment sales contracts primarily from franchised automobile dealerships secured by late model used vehicles and, to a lesser extent, new vehicles. CPS funds these contract purchases on a long-term basis through the securitization markets and services the loans over their entire contract terms.<\/p>\n<p align=\"justify\">\n        <strong><br \/>\n          <em>Investor Relations Contact<\/em><br \/>\n        <\/strong>\n      <\/p>\n<p>Jeffrey P. Fritz, Chief Financial Officer<br \/>844-878-CPSS (844-878-2777)<\/p>\n<p \/>\n      <img loading=\"lazy\" decoding=\"async\" class=\"__GNW8366DE3E__IMG\" src=\"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODA4NDQ2MyMzODIyMzg4IzIwMTc0NzM=\" width=\"1\" height=\"1\" \/>\n    <\/div>\n<div class=\"mw_contactinfo\"><\/div>\n","protected":false},"excerpt":{"rendered":"<p>LAS VEGAS, Nov. 11, 2020 (GLOBE NEWSWIRE) &#8212; Consumer Portfolio Services, Inc. (Nasdaq: CPSS) (\u201cCPS\u201d or the \u201cCompany\u201d) today announced that its board of directors unanimously rejected Auto Experience Inc.\u2019s (\u201cAEI\u201d) unsolicited indication of interest in acquiring the Company.\u00a0 After careful review and consideration, the CPS board concluded that AEI\u2019s indicated price of $135 million grossly undervalues the Company. Taking into account the Company\u2019s long-term prospects, the board determined that pursuing such a transaction would not be in the best interests of the Company\u2019s shareholders. In addition, the CPS board does not believe that AEI\u2019s indication of interest is credible. About Consumer Portfolio Services, Inc. Consumer Portfolio Services, Inc. is an independent specialty finance company that provides indirect automobile financing &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/consumer-portfolio-services-board-of-directors-unanimously-rejects-unsolicited-indication-of-interest-from-auto-experience-inc\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Consumer Portfolio Services\u2019 Board of Directors Unanimously Rejects Unsolicited Indication of Interest from Auto Experience Inc.&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-379123","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.7 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Consumer Portfolio Services\u2019 Board of Directors Unanimously Rejects Unsolicited Indication of Interest from Auto Experience Inc. - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/consumer-portfolio-services-board-of-directors-unanimously-rejects-unsolicited-indication-of-interest-from-auto-experience-inc\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Consumer Portfolio Services\u2019 Board of Directors Unanimously Rejects Unsolicited Indication of Interest from Auto Experience Inc. - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"LAS VEGAS, Nov. 11, 2020 (GLOBE NEWSWIRE) &#8212; Consumer Portfolio Services, Inc. (Nasdaq: CPSS) (\u201cCPS\u201d or the \u201cCompany\u201d) today announced that its board of directors unanimously rejected Auto Experience Inc.\u2019s (\u201cAEI\u201d) unsolicited indication of interest in acquiring the Company.\u00a0 After careful review and consideration, the CPS board concluded that AEI\u2019s indicated price of $135 million grossly undervalues the Company. Taking into account the Company\u2019s long-term prospects, the board determined that pursuing such a transaction would not be in the best interests of the Company\u2019s shareholders. In addition, the CPS board does not believe that AEI\u2019s indication of interest is credible. About Consumer Portfolio Services, Inc. Consumer Portfolio Services, Inc. is an independent specialty finance company that provides indirect automobile financing &hellip; Continue reading &quot;Consumer Portfolio Services\u2019 Board of Directors Unanimously Rejects Unsolicited Indication of Interest from Auto Experience Inc.&quot;\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.marketnewsdesk.com\/index.php\/consumer-portfolio-services-board-of-directors-unanimously-rejects-unsolicited-indication-of-interest-from-auto-experience-inc\/\" \/>\n<meta property=\"og:site_name\" content=\"Market Newsdesk\" \/>\n<meta property=\"article:published_time\" content=\"2020-11-11T22:38:13+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODA4NDQ2MyMzODIyMzg4IzIwMTc0NzM=\" \/>\n<meta name=\"author\" content=\"Newsdesk\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Newsdesk\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/consumer-portfolio-services-board-of-directors-unanimously-rejects-unsolicited-indication-of-interest-from-auto-experience-inc\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/consumer-portfolio-services-board-of-directors-unanimously-rejects-unsolicited-indication-of-interest-from-auto-experience-inc\\\/\"},\"author\":{\"name\":\"Newsdesk\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#\\\/schema\\\/person\\\/482f27a394d4fda80ecb5499e519d979\"},\"headline\":\"Consumer Portfolio Services\u2019 Board of Directors Unanimously Rejects Unsolicited Indication of Interest from Auto Experience Inc.\",\"datePublished\":\"2020-11-11T22:38:13+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/consumer-portfolio-services-board-of-directors-unanimously-rejects-unsolicited-indication-of-interest-from-auto-experience-inc\\\/\"},\"wordCount\":209,\"image\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/consumer-portfolio-services-board-of-directors-unanimously-rejects-unsolicited-indication-of-interest-from-auto-experience-inc\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.globenewswire.com\\\/newsroom\\\/ti?nf=ODA4NDQ2MyMzODIyMzg4IzIwMTc0NzM=\",\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/consumer-portfolio-services-board-of-directors-unanimously-rejects-unsolicited-indication-of-interest-from-auto-experience-inc\\\/\",\"url\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/consumer-portfolio-services-board-of-directors-unanimously-rejects-unsolicited-indication-of-interest-from-auto-experience-inc\\\/\",\"name\":\"Consumer Portfolio Services\u2019 Board of Directors Unanimously Rejects Unsolicited Indication of Interest from Auto Experience Inc. - 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(Nasdaq: CPSS) (\u201cCPS\u201d or the \u201cCompany\u201d) today announced that its board of directors unanimously rejected Auto Experience Inc.\u2019s (\u201cAEI\u201d) unsolicited indication of interest in acquiring the Company.\u00a0 After careful review and consideration, the CPS board concluded that AEI\u2019s indicated price of $135 million grossly undervalues the Company. Taking into account the Company\u2019s long-term prospects, the board determined that pursuing such a transaction would not be in the best interests of the Company\u2019s shareholders. In addition, the CPS board does not believe that AEI\u2019s indication of interest is credible. About Consumer Portfolio Services, Inc. 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