Penske Automotive Group Receives Take-Private Proposal
Penske Automotive Group confirmed on July 22, 2026, that its Board of Directors received an unsolicited, preliminary, and non-binding proposal to acquire the remaining shares of the company for $210 per share. The offer comes from major shareholders Penske Corporation and Mitsui & Co.
BLOOMFIELD HILLS, Mich. – Penske Automotive Group, Inc. announced on July 22, 2026, that its Board of Directors has received an unsolicited, preliminary, and non-binding proposal from Penske Corporation (PC) and Mitsui & Co., Ltd. (Mitsui) to acquire the remaining shares of the company. PC and Mitsui, along with their affiliates, currently own 72.6% of the outstanding common stock and are offering $210 in cash per share for the rest.
The company's Board has established a special committee comprising independent directors to review and consider the proposal. This committee is authorized to engage advisors, including legal and financial experts, to aid in its evaluation. Penske Automotive Group stated that there is no certainty that any agreement will be reached regarding the potential transaction, and it does not intend to provide further comment unless deemed necessary or required.
Penske Automotive Group is a diversified international transportation services company and a major retailer of automobiles and commercial trucks. The company operates dealerships across the United States, the United Kingdom, Canada, Germany, Italy, Japan, and Australia.
The company also holds a 28.9% ownership stake in Penske Transportation Solutions (PTS), which manages one of North America's largest trucking fleets and provides transportation, supply chain, and technology solutions.