Penske Automotive agrees to be taken private by Penske, Mitsui

By Reuters News

Oct 15 (Reuters) - Penske Automotive Group PAG.N on Thursday said it had agreed to be taken private by its largest shareholders, Penske Corp and Japan's Mitsui 8031.T, in a deal that values the auto retailer at about $16.3 billion, including debt.

  • Shares of the auto dealership chain were up 8.6% before the bell

  • The $212 per share purchase price represents an 8.6% premium to the company's closing price on July 21, the day before the initial proposal was made public

  • Transportation ​company Penske Corp owns over 52% of Penske Automotive ​Group, while Mitsui holds over 20%

  • Upon completion of the acquisition, expected in the first quarter of 2027, Penske Corp will own approximately 64% of the auto retailer and Mitsui the remaining

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