Penske Automotive Agrees to $16.3B Take-Private Deal
Penske Automotive Group agreed to be taken private by Penske Corporation and Mitsui & Co. in a deal valuing the company at approximately $16.3 billion. Its shares rose around 8% in premarket trading.
Penske Automotive Group (PAG) shares rose around 8% in premarket trading on Thursday after the company agreed to a take-private deal with Penske Corporation and Mitsui & Co. that values it at approximately 16.3 billion. Roger Penske, chair and CEO of Penske Automotive Group, called the…