PENSKE AUTOMOTIVE GROUP, INC. (PAG) Form SCHEDULE 13D/A — Oct 15, 2026
Penske Automotive Group (PAG) signed a definitive merger agreement on October 15, 2026 to be taken private at $212.00 per share in cash by a consortium of Penske Corporation, Penske Automotive Holdings Corp., and Mitsui via buyer Motown Acquisition Corp. The deal was approved unanimously on the recommendation of a special committee of independent directors, with affiliated directors recused. Mitsui entities, which hold 13,322,205 shares (approximately 20.3% of the 65,662,873 shares outstanding), signed a voting and support agreement to vote for the merger, and Mitsui Japan committed $1.6 billion in equity financing.
Key figures
- Deal Value Usd
- up to ~$14 billion equity value (not explicitly stated; $212.00 per share x shares)
- Offering Price
- 212
- Shares Outstanding
- 65662873
- Outside date
- October 15, 2027
- Buyer termination fee
- $488 million
- Company termination fee
- $383 million
- Debt financing capacity
- $1.8 billion
- Mitsui ownership shares
- 13322205
- Mitsui equity commitment
- $1.6 billion
- Mitsui ownership percent
- 20.3%
- Subordinated notes capacity
- $1.1 billion
- Merger consideration per share
- $212.00 in cash
AI analysis
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