Penske Automotive (PAG) Stock News: Penske Corporation and Mitsui to Take the Dealer Group Private at $212 a Share

Penske Automotive Group announced on October 15 that it has agreed to be taken private by Motown Acquisition Corp., an entity owned by Penske Corporation and Mitsui & Co., according to the company’s announcement.

Terms#

Shareholders other than Penske Corporation, Mitsui and other members of the investor group will receive $212.00 per share in cash, which the company says values it at an enterprise value of approximately $16.3 billion. After closing, Penske Corporation will hold about 64% and Mitsui about 36%.

The price is an 8.84% premium to the October 14 closing price and an 8.6% premium to the July 21 close, the last trading day before the buyers submitted an unsolicited, non-binding proposal. Measured against the 60-day and 90-day volume-weighted average prices through July 21, the premiums are about 20.1% and 26.2%.

Process#

A special committee of independent directors, advised by its own legal and financial advisers, unanimously recommended the transaction, and the board approved it. The company expects to keep paying quarterly dividends until closing, capped at $0.02 per share above the prior quarter’s rate; the same day it raised the quarterly dividend to $1.46.

What to compare next#

For readers following PAG, the stock now trades mainly on deal risk: whether the required approvals arrive and whether any competing proposal emerges. The modest premium to the pre-announcement price reflects that the buyers already controlled a majority of the shares.

Published October 21, 2026. Informational reporting, not investment advice. Figures come from the company's own release unless stated; forward-looking guidance is management's current forecast and can change.