REPORT: AM General Hits The Selling Block

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(Image courtesy of AM General) (Image courtesy of AM General)

A global news publication is reporting South Bend-based AM General LLC is up for sale. Sources tell Reuters the Humvee maker has hired investment bank Macquarie Group Ltd. to find potential bidders. The deal, Reuters' sources suggest, could exceed $2 billion.

The company is owned by a group of private equity firms that Reuters says includes MacAndrews & Forbes Inc and The Renco Group Inc.

Macquarie Group Ltd is based in Australia and has an office in New York. AM General has design, engineering, manufacturing and supply chain capabilities for military and commercial customers.

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