Penske Automotive Group to Be Taken Private for $212 a Share
Penske Automotive Group agreed to be taken private by Motown Acquisition Corp for $212 per share in cash. Shares rose 8.5% in morning trading.
What Happened? Shares of global automotive retailer Penske Automotive Group NYSE:PAG jumped 8.5% in the morning session after the company agreed to be taken private by Motown Acquisition Corp (an entity owned by Penske Corporation and Mitsui & Co., Ltd) for $212.00 per share in cash.The buyer is no…