The acquisition will shift total ownership of the automotive network to its existing major backers. Shares of the company rose 8.5% in pre-market trading on Oct. 15 following the disclosure of the agreement.
Tuesday, October 20, 2026
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Penske Corp and Mitsui Acquire Penske Automotive for $16.3B
Business5 days ago
One of the largest car dealership groups in the United States is being taken private by its primary owners in a cash transaction. Penske Automotive Group agreed to be acquired by its two biggest shareholders, Penske Corporation and Mitsui, for $212 per share. The deal values the company at $16.3 billion and represents an 8.6% premium over the market price.
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