Penske Automotive rises after agreeing to be taken private by Penske, Mitsui

By Reuters News

** Shares of Penske Automotive Group PAG.N up ~8% at $211.23 premarket

** Co says it agrees to be taken private by its largest shareholders, Penske Corp and Japan's Mitsui 8031.T, in a deal valuing the company at about $16.3 billion, including debt

** PAG says the $212 per share purchase price represents an 8.6% premium to its July 21 close, a day before initial proposal was made public

** Following the deal, which is expected to close in Q1 2027, Penske Corp will own about 64% of the company and Mitsui about 36%

** Co says it will release Q3 2026 results on October 28, but will not hold an earnings call because of the pending transaction

** Up to last close, PAG up about 23% YTD

Capital.com is an execution-only brokerage platform and the content provided on the Capital.com website is intended for informational purposes only and should not be regarded as an offer to sell or a solicitation of an offer to buy the products or securities to which it applies. No representation or warranty is given as to the accuracy or completeness of the information provided.

The information provided does not constitute investment advice nor take into account the individual financial circumstances or objectives of any investor. Any information that may be provided relating to past performance is not a reliable indicator of future results or performance.

To the extent permitted by law, in no event shall Capital.com (or any affiliate or employee) have any liability for any loss arising from the use of the information provided. Any person acting on the information does so entirely at their own risk.

Any information which could be construed as “investment research” has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication.