Penske Automotive agrees to be taken private by Penske, Mitsui
PAG•Penske Automotive agreed to be taken private by its largest shareholders, Penske Corp and Mitsui, in a deal valuing the retailer at about $16.3 billion, including debt. The $212-per-share offer is an 8.6% premium to the July 21 closing price, and the deal is expected to close in the first quarter of 2027.
1. Deal terms
Penske Automotive Group said it agreed to be taken private by Penske Corp and Mitsui in a deal valuing the auto retailer at about $16.3 billion, including debt. The buyers are offering $212 per share, an 8.6% premium to the company's July 21 closing price, the day before the initial proposal was made public.
2. Ownership after closing
Penske Corp owns more than 52% of Penske Automotive Group, while Mitsui holds more than 20%. Upon completion, expected in the first quarter of 2027, Penske Corp will own approximately 64% of the retailer and Mitsui the remaining stake.
