PENSKE AUTOMOTIVE GROUP CONFIRMS RECEIPT OF UNSOLICITED, PRELIMINARY AND NON-BINDING TAKE PRIVATE PROPOSAL
Penske Automotive Group confirmed receipt of a preliminary, non-binding proposal from Penske Corporation and Mitsui & Co., Ltd. to acquire the remaining outstanding shares for $210 per share. The buyers currently beneficially own 72.6% of the company; the Board has formed a special committee of independent directors to review the offer.
Key figures
- Offer price per share
- 210
- Percent owned by buyers
- 72.6%
AI analysis
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