Penske Automotive Group agreed Thursday to be taken private by its largest shareholders — privately held Penske Corporation and Japan's Mitsui & Co. — in a deal valuing the auto retailer at ~$16.3B enterprise value. Unaffiliated shareholders get $212 per share in cash, an ~8.8% premium to Wednesday's $194.79 close; the shares jumped ~8.6% Thursday. The deal, unanimously recommended by a special committee of independent directors, is expected to close in Q1 2027.
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