Paccar is buying nearly a million shares of common stock of Rush Enterprises, based in San Antonio. This will give Paccar about 14% of the company's outstanding stock. Mr. Rush will still be the largest stockholder, with approximately 39%.
Rush Enterprises operates a network of Peterbilt and John Deere dealerships in Texas, California, Oklahoma, Louisiana, Colorado, Arizona, New Mexico and Michigan. The company also recently announced an agreement to sell Dorsey trailers.