Penske Automotive special committee hires Moelis, Paul Weiss to assess $210-per-share take-private offer
PAG•Special committee formed to review take-private proposal
Penske Automotive Group formed a special committee to evaluate a take-private proposal from Penske Corp. and Mitsui.
The offer, received July 22, seeks to buy remaining shares not already owned by the bidders for $210 per share in cash.
The committee hired Moelis as financial adviser and Paul, Weiss as legal counsel.
No deal terms have been agreed; the proposal remains unsolicited, preliminary and non-binding.
