Penske, Mitsui Agree to Take Penske Automotive Private

Penske Automotive Group agreed to go private in a deal with Penske Corporation and Mitsui & Co. The acquisition entity will pay $212 in cash per eligible share it does not already own, an 8.8% premium to the stock's previous closing price. Penske Corporation and Mitsui & Co. already hold more than 70% of the company. An independent special committee negotiated the agreement and recommended it as fair to unaffiliated shareholders. The transaction is expected to close in the first quarter of 2027, subject to required approvals, and is not conditioned on financing. A wire summary values the company at about $16.3 billion, while a Dow Jones report describes the deal as about $4 billion. Right-rated coverage from Barron's and Seeking Alpha foregrounded that the stock rose or rallied after the announcement tied to the premium price. Required approvals remain ahead of the expected first-quarter 2027 close.