AcquisitionsJul 22, 2026, 05:21 PM
Penske Automotive Receives $210/Share Take-Private Proposal
AI Summary
Penske Automotive Group, Inc. (PAG) announced that its Board of Directors received an unsolicited, preliminary, and non-binding proposal from Penske Corporation (PC) and Mitsui & Co., Ltd. to acquire the remaining shares of PAG's common stock they do not already own for $210 per share in cash. PC and Mitsui collectively own 72.6% of PAG's outstanding common stock. The Board has established a special committee of independent directors to review and consider the proposal, which includes a significant premium over recent trading prices.
Key Highlights
- Penske Corporation and Mitsui & Co. offered $210 per share in cash for remaining PAG shares.
- PC and Mitsui and their affiliates currently own 72.6% of PAG's common stock.
- The proposal implies an equity value of approximately $13.8 billion for PAG.
- The offer represents a 19.3% premium over the 60-day volume weighted average price.
- The offer represents a 25.4% premium over the 90-day volume weighted average price.
- The proposed price exceeds the all-time highest trading price for PAG shares.
Price Impact
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