Mergers & Acquisitions ·
Penske Automotive reports Q3 EPS of $3.36 as it proposes a $212-per-share, $16.3 billion take-private deal
PAGPenske Automotive Group, Inc.
Penske Automotive Group reported third-quarter revenue of $8.4 billion and net income attributable to common stockholders of $220.8 million, or $3.36 per share. The company also announced that its Board approved a 1.4% increase in the quarterly dividend to $1.46 per share, payable December 1, 2026. Separately, Penske Automotive remains subject to a proposed merger agreement with Motown Acquisition Corp., an entity owned by Penske Corporation and Mitsui & Co., which values the company at approximately $16.3 billion enterprise value for $212.00 per share in cash. The transaction is expected to close in the first quarter of 2027, subject to customary closing conditions. Penske Automotive Group operates dealerships in the United States, the United Kingdom, Canada, Germany, Italy, Japan, and Australia, serving as a premier retailer of automotive and commercial truck vehicles.