From EssentiallySports · Vikrant Damke · · 1m 20s
Roger Penske Takes PAG Private with $16.3B Deal
Roger Penske's Penske Automotive Group merges with Mitsui to exit NYSE for $16.3 billion.
In brief
Roger Penske's Penske Automotive Group merges with Mitsui to exit NYSE for $16.3 billion. Penske Automotive Group will become private after a $16.3 billion deal with Mitsui, ending 30 years on NYSE. Originally reported by EssentiallySports.
Roger Penske's Business Journey
Roger Penske started with a Chevrolet dealership in 1965, building an automotive empire.
Penske Automotive Group Takes Private
Penske Automotive Group announced a $16.3 billion take-private deal with Motown Acquisition Corp on October 15.
Deal Terms and Ownership
Buyers will pay $212 cash per share, valuing PAG at $16.3 billion with an 8.84% premium over the October 14 price.
Ownership Split After Deal
Penske Corporation will own 64% of PAG, with Mitsui holding 36% after the transaction closes.
Deal Timeline and Approval
The transaction is expected to close in Q1 2027 after shareholder and regulatory approvals.
Penske's Vision for the Future
Roger Penske described the deal as a significant step to build on PAG's operational excellence with Mitsui.
PAG's Public History
PAG has traded on NYSE since 1996, ending 30 years of public-market history with this deal.
PAG's Global Reach
PAG operates dealerships in the US, UK, Canada, Germany, Italy, Japan, and Australia with 28,900 employees.
The key point
Penske Automotive Group will become private after a $16.3 billion deal with Mitsui, ending 30 years on NYSE.
