Morningstar

Penske Automotive Group to Be Taken Private by Penske, Mitsui

Provided by Dow Jones Oct 15, 2026, 11:30:00 AM

By Colin Kellaher

Penske Automotive Group has agreed to be taken private by its biggest investors in a deal that gives the transportation-services company an enterprise value of about $16.3 billion.

Penske Automotive on Thursday said privately held Penske Corp. and Japan's Mitsui & Co. have agreed to pay $212 in cash for each share of the Bloomfield Hills, Mich., company they don't already own.

The deal, slated to in the first quarter of 2027, represents a premium of 8.8% to Wednesday's closing price of $194.79 for Penske Automotive.

Shares of Penske Automotive were recently up 8.5% to $211.30 in premarket trading.

Penske and Mitsui already own more than 70% of Penske Automotive.

Write to Colin Kellaher at colin.kellaher@wsj.com

(END) Dow Jones Newswires

October 15, 2026 07:30 ET (11:30 GMT)

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

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