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Penske denies having deal with GMC

INDIANAPOLIS -- Roger Penske says he is contemplating a bid for the Saturn automotive brand that General Motors Corp. plans to sell or shut down.

While Penske has not yet made an offer, he said Friday a decision would have to come soon and that a number of unidentified details need to be worked out.

Penske has a vested interest in the automotive industry. He owns the second-largest U.S. automobile retail chain in terms of sales, Bloomfield Hills, Mich.-based Penske Automotive Group Inc. He also owns heavy-duty engine manufacturer Detroit Diesel and has race teams in the IndyCar, NASCAR and Grand-Am series.

But Penske denied that he has made a deal and said published reports are ahead of the process.