Two current owners seek to take Penske Automotive private

Shares of Penske Automotive Group soared Wednesday successful effect to a takeover bid from the the company's existent 2 biggest owners.

Mitsui & Co. (U.S.A), which owns astir 20.3% of Penske Automotive, and Penske Corporation, a privately-held institution that owns astir 52% of Penske Automotive, announced the bid to get the astir 27.8% of Penske Automotive they bash not already own. 

The deal, if completed, would marque Penske Automotive a privately-held company.

At astir 1 p.m., Penske Automotive (NYSE: PAG) was up 10.32% to $215.34. At that price, the banal was up astir 23.4% successful the past period and 26.2% for the past 52 weeks. 

The banal earlier successful the time had deed a 52-week precocious astatine $218.63. Its 52-week debased was $140.12 connected March 20. 

The beingness of 2 companies with the Penske sanction linked unneurotic tin marque untangling the ownership of Penske Automotive, and what it does, challenging.

Tracking the ownership

For example, the motortruck rental and leasing limb nether Penske Automotive is Penske Truck Leasing. It is 28.9% owned by Penske Automotive, 41.1% owned by the privately-held Penske Corp., and 30% by Mitsui, according to the latest 10-K filing of Penske Automotive. 

Penske Automotive Group besides operates Premier Truck Group, a motortruck dealership that chiefly sells Freightliner and Western Star trucks, some subsidiaries of Daimler Truck North America. According to the 10-K, Premier Truck Group has 45 retail locations successful 10 states and 2 Canadian provinces.

But the biggest portion of the Penske Automotive operations is its automobile retail sales. The institution said successful its 10-K that it is "one of the largest planetary automotive retailers" with $27.5 cardinal successful automotive dealership gross past year. 

The institution said successful its 10-K that car and motortruck dealerships accounted for 97.1% of gross and 80.9% of net earlier taxes successful 2025. It did not interruption down the divided betwixt automotive and motortruck dealerships.

Penske Automotive's retail motortruck income cognition sold 15,709 units successful 2025, down from 16,923 units successful 2024.

A spokesperson for Penske Automotive declined remark connected respective questions submitted by FreightWaves.

The connection price, announced overnight retired of Japan, is $210 per share, putting a worth connected the institution of $13.8 billion. The banal is not wide traded; successful the 10-K, Penske Automotive reported determination were conscionable 228 holders of grounds successful February.

At astir 1:15 p.m., Penske Automotive had recorded trading measurement of astir 1.6 cardinal shares. The mean regular measurement is 303,449.