Penske Automotive agrees to be taken private by Penske, Mitsui

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