Penske Automotive rises after agreeing to be taken private by Penske, Mitsui

MITSUI & CO.

15/10/2026 13:47

** Shares of Penske Automotive Group PAG.N up ~8% at $211.23 premarket
** Co says it agrees to be taken private by its largest shareholders, Penske Corp and Japan's Mitsui  8031.T, in a deal valuing the company at about $16.3 billion, including debt
** PAG says the $212 per share purchase price represents an 8.6% premium to its July 21 close, a day before initial proposal was made public
** Following the deal, which is expected to close in Q1 2027, Penske Corp will own about 64% of the company and Mitsui about 36%
** Co says it will release Q3 2026 results on October 28, but will not hold an earnings call because of the pending transaction
** Up to last close, PAG up about 23% YTD

(Reporting by Shania S Thomas in Bengaluru)
((shanias.thomas@thomsonreuters.com))