Penske Automotive Group Announces Agreement to be Taken Private by Penske Corporation and Mitsui & Co.
PR Newswire•15/10/2026•06:50 ET
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Key Highlights
- ➤PAG shareholders to receive $212 per share in cash, valuing the company at $16.3 billion
- ➤Penske and Mitsui will take Penske Automotive Group private, owning 64% and 36%
- ➤$212 offer represents an 8.84% premium to PAG’s October 14 closing price
- ➤Transaction expected to close in Q1 2027, pending regulatory and shareholder approvals
- ➤PAG shares will cease trading on the New York Stock Exchange after closing
Expert Statements
David Hoogendoorn, Penske Automotive Group Board Member and Special Committee Chair
“The Special Committee thoroughly reviewed the proposal and considered the benefits of the transaction as compared to continuing as a public company, and determined that this transaction provided the greatest value for the Company's minority shareholders.”
Roger Penske, Chair and CEO of Penske Automotive Group
“This transaction marks an important next chapter for PAG. Mitsui has been a shareholder for 25 years, and we have had a productive relationship over the past quarter-century. Together with Mitsui, we will build on PAG's operational excellence and draw on our combined capabilities and networks to drive innovation and expand PAG's business through new opportunities and collaborative projects.”
Penske Automotive Group Announces Agreement to be Taken Private by Penske Corporation and Mitsui & Co. PR Newswire
Penske Automotive Group Shareholders to Receive $212.00 Per Share in Cash
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