Penske Corporation and Mitsui to Acquire Penske Automotive Group in $16.3B Deal

news.law October 22, 2026

Paul, Weiss is advising a special committee of Penske Automotive Group’s board of directors in connection with the company’s take-private acquisition by Motown Acquisition Corp, an entity owned by Penske Corporation and Mitsui & Co., Ltd. Under the agreement unanimously recommended by the special committee, holders of Penske Automotive common stock, excluding members of the investor group, will receive $212 per share in cash, valuing the company at $16.3 billion. Upon completion, expected in the first quarter of 2027, Penske Corporation will own 64% of Penske Automotive and Mitsui will own 36%. Penske Automotive is one of the world’s premier automotive and commercial truck retailers, operating dealerships on four continents and employing over 28,900 people.