Mergers & Acquisitions ·
Penske Corp and Mitsui agree to take Penske Automotive private for $212.00 per share in cash
PAGPenske Automotive Group, Inc.
Penske Automotive Group, Inc. has entered into a definitive merger agreement with Motown Acquisition Corp., an entity owned by Penske Corporation and Mitsui & Co., Ltd., to be taken private. Under the terms of the deal, unaffiliated shareholders will receive $212.00 per share in cash, valuing the company at approximately $16.3 billion in enterprise value. The transaction requires approval from a majority of outstanding shares and disinterested stockholders, with closing expected in the first quarter of 2027. Penske Corporation and Mitsui are expected to own approximately 64% and 36%, respectively, of the combined entity upon completion. Penske Automotive Group operates dealerships in the United States, Europe, Canada, Japan, and Australia, serving as a premier retailer of automotive and commercial truck vehicles.