Mitsui and Penske Corp. bid to take Penske Automotive private at $210 per share

Corporate Action Impact 4
โดย FreightWaves·Read original
Summary · why it matters

Mitsui & Co. (U.S.A.) and Penske Corporation, the two largest shareholders of Penske Automotive Group, have launched a bid to acquire the roughly 27.8% of the company they do not already own, in a deal that would take the auto retailer private. The offer price is $210 per share, valuing the company at $13.8 billion. Mitsui currently holds about 20.3% of Penske Automotive, while Penske Corp. owns approximately 52%. Shares of Penske Automotive surged 10.32% to $215.34 following the announcement, hitting a 52-week high of $218.63 earlier in the session.

Impact on stocks 2

Consumer Discretionary▲ · 1 stocks
Penske Automotive Group Inc
PAG
▲ PositiveCapitalrelevance

Mitsui and Penske Corp. bid to take Penske Automotive private at $210 per share, a premium that drove shares up 10.32%.

Energy Transition & Power Demand▲ · 1 stocks
Mitsui & Co.,Ltd
8031
▲ PositiveCapitalrelevance

Mitsui & Co. (U.S.A.) is a bidder in the take-private deal, which could benefit its parent company through the transaction.

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