Penske Automotive Group Announces Agreement to be Taken Private by Penske Corporation and Mitsui & Co.
Penske Automotive Group Shareholders to Receive $212.00 Per Share in Cash
BLOOMFIELD HILLS, MICH. — Penske Automotive Group announced a merger agreement to be taken private by Motown Acquisition Corp., an entity owned by Penske Corporation and Mitsui & Co. Public shareholders will receive $212.00 per share in cash, valuing the company at an enterprise value of approximately $16.3 billion, an 8.84 percent premium to the October 14, 2026 closing price. On completion, expected in the first quarter of 2027 subject to regulatory and shareholder approvals, Penske Corporation will own about 64 percent and Mitsui about 36 percent, and the stock will be delisted from the New York Stock Exchange. A special committee of independent directors unanimously recommended the deal, and third quarter 2026 results will be issued October 28 without an earnings call.
About Penske Automotive Group
Penske Automotive Group, Inc. (NYSE: PAG), headquartered in Bloomfield Hills, Michigan, is a diversified international transportation services company and one of the world's premier automotive and commercial truck retailers, operating dealerships in the United States, the United Kingdom, Canada, Germany, Italy, Japan, and Australia, and employing over 28,900 people worldwide.
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