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Penske Automotive Group Confirms Receipt of Take-Private Bid from Penske Corp., Mitsui

Provided by Dow Jones Jul 23, 2026, 2:51:00 AM

By Kelly Cloonan

Penske Automotive Group confirmed that it received an unsolicited proposal from Penske Corp. and Mitsui to take the automotive and truck retailer private.

PAG said Wednesday its board established a special committee to review the proposal.

Under the non-binding proposal, Penske Corp. and Japanese investment firm Mitsui offered to acquire the remaining shares of PAG that they don't currently own for $210 a share in cash.

Penske Corp. and Mitsui and their affiliates currently have a combined stake of about 73% in the company.

Write to Kelly Cloonan at kelly.cloonan@wsj.com

(END) Dow Jones Newswires

July 22, 2026 17:51 ET (21:51 GMT)

Copyright (c) 2026 Dow Jones & Company, Inc.

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