Recent Updates — PAG
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.
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.
The Board of Directors declared a quarterly cash dividend of $1.46 per share, representing an increase of $0.02 per share (+1.4%). The dividend is payable on December 1, 2026, to shareholders of record as of November 13, 2026. This brings the annualized dividend rate to $5.84 per share. Penske Automotive Group operates dealerships in multiple countries and is a premier retailer of automotive and commercial truck vehicles.
Penske Automotive Group announced that its Special Committee has retained Moelis & Company as financial advisor and Paul, Weiss as legal counsel to evaluate an unsolicited proposal from Penske Corporation and Mitsui & Co. The preliminary offer seeks to acquire remaining minority shares for $210 per share in cash. This development follows the initial proposal received on July 22, 2026. The company cautioned that no assurance exists regarding whether a transaction will be reached or its final terms. Penske Automotive Group operates as a diversified international transportation services company and is one of the world's premier automotive and commercial truck retailers.
Penske Automotive Group reported second quarter 2026 results with revenue increasing 6% to $8.5 billion and net income of $260 million, or $3.96 per share. The company delivered over 125,000 retail automotive units, a 5% increase year-over-year. Additionally, the Board approved a 1.4% increase in the quarterly dividend to $1.44 per share, payable September 1, 2026, to shareholders of record as of August 14, 2026. Penske Automotive Group operates as a diversified international transportation services company and is one of the world's premier automotive and commercial truck retailers.
Penske Automotive Group, Inc. declared a quarterly dividend of $1.44 per share, representing a 1.4% increase from the previous period. The dividend is payable on September 1, 2026, to shareholders of record as of August 14, 2026. Penske Automotive Group, Inc. is a diversified international transportation services company and automotive and commercial truck retailer.