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Roger Penske's Automotive Group Agrees to $16.3B Deal
MotorBiscuit • • business
Key Points:
- Penske Automotive Group, chaired by NASCAR team owner Roger Penske, has agreed to a $16.3 billion deal to go private, with Penske Corporation and Mitsui & Co. buying out remaining shareholders.
- Shareholders will receive $212 per share in cash, representing an 8.84% premium over the recent stock price, with Penske Corporation and Mitsui expected to own 64% and 36% respectively after the deal closes.
- The transaction, approved by the company’s board and an independent committee, is expected to finalize in the first quarter of 2027, pending shareholder and regulatory approvals.
- This buyout involves only Penske Automotive Group, the dealership business, and does not affect Roger Penske’s racing operations such as Team Penske or Penske Entertainment.
- Going private will change the ownership structure of the automotive retail business and end its public trading on the New York Stock Exchange, but Penske’s involvement in motorsports remains unchanged.
