Penske Automotive Agrees to $16.3 Billion Buyout in Major Private-Equity Style Take-Private Deal
Penske Automotive Group has agreed to be taken private in a transaction valuing the U.S. auto retailer at about $16.3 billion, marking one of the largest corporate buyouts in the sector this year. The deal, involving Roger Penskeโs Penske Corporation and Japanโs Mitsui & Co., underscores continued investor appetite for stable, cash-generating automotive retail assets despite a volatile global market backdrop.
