Penske Automotive Group to be Taken Private by Penske Corporation and Mitsui & Co. in $16.3 Billion Deal

Penske Automotive Group, Inc. (NYSE: PAG) has entered into a merger agreement to be taken private by Motown Acquisition Corp., an entity jointly owned by Penske Corporation and Mitsui & Co., Ltd. Under the terms of the agreement, shareholders will receive $212.00 per share in cash, valuing the diversified international transportation services company at an enterprise value of approximately $16.3 billion.