Penske Automotive Group to Go Private in $16.3 Billion Deal With Penske, Mitsui

MT newswire2026/10/15 11:18

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07:18 AM EDT, 10/15/2026 (MT Newswires) -- Penske Automotive Group (PAG) said Thursday it has agreed to be taken private in a $16.3 billion merger deal with Penske Corp. and Mitsui. Under the deal, shareholders other than Penske Corp., Mitsui and other members of the investor group will receive $212 per share in cash, an 8.84% premium to Wednesday's closing price, according to a statement. Following the transaction, Penske Corp. will own about 64% of the company, while Mitsui will hold the remaining 36%, Penske Automotive said. The deal is expected to close in Q1 of 2027, the company said. Penske Automotive shares were up 8.5% in premarket activity Thursday.

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华尔街见闻•2026/11/08 12:41