{"id":92266,"date":"2026-10-16T06:06:04","date_gmt":"2026-10-16T10:06:04","guid":{"rendered":"https:\/\/hedgeco.net\/news\/10\/2026\/penske-corporation-and-mitsui-agreed-to-take-penske-automotive-private-for-about-16-3-billion.html"},"modified":"2026-10-16T06:06:04","modified_gmt":"2026-10-16T10:06:04","slug":"penske-corporation-and-mitsui-agreed-to-take-penske-automotive-private-for-about-16-3-billion","status":"publish","type":"post","link":"https:\/\/hedgeco.net\/news\/10\/2026\/penske-corporation-and-mitsui-agreed-to-take-penske-automotive-private-for-about-16-3-billion.html","title":{"rendered":"Penske Corporation and Mitsui Agreed to Take Penske Automotive Private for About $16.3 Billion:"},"content":{"rendered":"<p><img decoding=\"async\" src=\"https:\/\/hedgeco.net\/news\/wp-content\/uploads\/2026\/10\/2026-10-16-penske-hero.jpg\" alt=\"Penske Corporation and Mitsui Agreed to Take Penske Automotive Private for About $16.3 Billion\" \/><\/p>\n<p>HedgeCo.Net \u2014 Penske Automotive Group, Inc. said it has entered a merger agreement to be taken private by Motown Acquisition Corp., an entity owned by Penske Corporation and Mitsui &#038; Co. Public shareholders other than the investor group will receive $212.00 per share in cash, valuing the company at an enterprise value of about $16.3 billion. After closing, Penske is expected to hold roughly 64% and Mitsui about 36%.<\/p>\n<p>The price represents roughly an 8.6% premium to the July 21, 2026 close\u2014the last day before Penske and Mitsui submitted their unsolicited preliminary proposal\u2014and about an 8.84% premium to the October 14 close. A special committee of independent directors unanimously recommended the deal after reviewing it with Moelis &#038; Company and Paul Weiss; the full board then approved it.<\/p>\n<p>Closing is expected in the first quarter of 2027, subject to regulatory approvals, a majority vote of outstanding shares and approval by a majority of votes cast by unaffiliated stockholders. The transaction is not subject to a financing condition. After closing, PAG shares will leave the New York Stock Exchange.<\/p>\n<p>Roger Penske, chair and CEO, said Mitsui has been a shareholder for 25 years and that the partnership will support operational excellence and new collaborative projects. For sponsors and strategic buyers, the deal is a classic controlling-shareholder take-private: the existing owners consolidate ownership rather than introduce a new financial sponsor as majority holder.<\/p>\n<p>BofA Securities, J.P. Morgan and Wells Fargo advised Penske Corporation; Jones Day is its counsel. Debevoise advises Mitsui. Freshfields represents the company. Investors will focus on the unaffiliated vote and whether any appraisal or litigation risk delays a Q1 2027 close.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>HedgeCo.Net \u2014 Penske Automotive Group, Inc. said it has entered a merger agreement to be taken private by Motown Acquisition Corp., an entity owned by Penske Corporation and Mitsui\u2026 <a class=\"continue_reading_link btn btn-mini\" href=\"https:\/\/hedgeco.net\/news\/10\/2026\/penske-corporation-and-mitsui-agreed-to-take-penske-automotive-private-for-about-16-3-billion.html\">Continue reading <span class=\"meta-nav\">&rarr;<\/span><\/a><\/p>\n","protected":false},"author":8,"featured_media":92265,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[15],"tags":[16895,16899,4475,16898,16896,16897,16554],"class_list":["post-92266","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-private-equity","tag-all-cash","tag-automotive-retail","tag-mitsui","tag-motown-acquisition-corp","tag-penske-automotive-group","tag-penske-corporation","tag-take-private"],"_links":{"self":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/92266","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/users\/8"}],"replies":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/comments?post=92266"}],"version-history":[{"count":0,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/92266\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/media\/92265"}],"wp:attachment":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/media?parent=92266"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/categories?post=92266"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/tags?post=92266"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}