Penske Automotive to Be Taken Private at $16.3B Valuation
- On Thursday, October 15, 2026, Penske Automotive Group announced an agreement to be taken private by Motown Acquisition Corp. in a transaction valued at approximately $16.3 billion, with shareholders receiving $212 per share in cash.
- Penske Corporation and Mitsui & Co., Ltd. already own about 72% of the auto retailer, with the offer representing an 8.84% premium over the closing price on Wednesday, October 14, 2026.
- Team Penske's NASCAR operation remains unaffected by the dealership acquisition, as the racing division operates under the privately held Penske Corporation; the auto retail group will delist from the New York Stock Exchange upon completion.
- Pending regulatory approvals and shareholder votes, the acquisition is expected to close in the first quarter of 2027; upon completion, Penske will own approximately 64% of the retailer while Mitsui will hold 36 percent.
- Roger Penske, Chair and CEO of the Company, stated, "This transaction marks an important next chapter for PAG," with the deal enabling the firm to build on operational excellence and drive innovation through collaborative projects with Mitsui.
27 Articles
27 Articles
Penske Automotive Group announces plans to go private in $16.3 billion deal
PAG is the parent company of Penske Australia & New Zealand, which distributes brands that include Western Star Trucks, MAN Truck & Bus, Dennis Eagle, mtu, Detroit, and Allison Transmission. Image: Penske Australia and New Zealand Penske Automotive Group (PAG), the parent company of Penske Australia & New Zealand, has announced that it has entered into a merger agreement. This would see PAG taken private by Motown Acquisition Corp, an entity own…
Roger Penske Inks Blockbuster Deal to Delist From NYSE
Roger Penske once had to choose between pursuing a career behind the wheel and building a business of his own. He chose business, buying a Chevrolet dealership in 1965 and laying the foundation for an empire that would eventually stretch across automotive retail, transportation, and motorsports. Decades later, the NASCAR titan is making another landmark […]
Penske Automotive Group to merge with Penske Corp-Mitsui entity - Prime Mover Magazine
Image: Penske Australia & New Zealand.Penske Australia & New Zealand’s parent, the Penske Automotive Group (PAG), has entered into a merger agreement by an entity owned by Penske Corp. (PC) and Mitsui & Co. Ltd., which are PAG’s largest shareholders. The deal calls for holders of PAG common stock — other than PC, Mitsui and the other members of the […]
Penske Automotive agrees to be taken private by Penske, Mitsui
PENSKE AUTOMOTIVE'S $16.3 BILLION TAKE-PRIVATE DEAL SPARKS LOUD REACTION ONLINE AS FREIGHT OBSERVERS TRACE THE TRUCKING MONEY
A $212-per-share buyout of Penske Automotive Group by Penske Corp. and Mitsui & Co. is drawing heavy chatter from freight and market watchers, who are tying the car-dealer giant to the truck-leasing business. Next News Network could not independently verify the claims circulating about the deal.
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