Penske Automotive agrees to US$16.3bn take-private deal
News · October 20, 2026
Penske Automotive Group has agreed to be taken private in a transaction valuing the international automotive and commercial-truck retail business at approximately US$16.3 billion in enterprise value.
In its 15 October 2026 announcement, the US-listed company said a buyer owned by Penske Corporation and Mitsui & Co would acquire the shares not already held by the investor group. Eligible shareholders would receive US$212 cash per share.
The proposed ownership structure would leave Penske Corporation with approximately 64 per cent and Mitsui with approximately 36 per cent. Completion is expected in the first quarter of 2027, subject to shareholder approval, regulatory clearances and other conditions.
Agreement, not completed acquisition
The company remains publicly listed while the transaction progresses through its required approvals. The announced enterprise value is in US dollars and should not be confused with an Australian-dollar purchase price or an equity-only valuation.