PAG
Penske Automotive Group
October 15, 2026 · pre-market
- Rarity
- 3.29
- Peak move
- +10.98%
- Float cap
- $3.5B
Penske Automotive Group operates franchised automotive dealerships, heavily weighted toward luxury and premium brands such as BMW, Mercedes-Benz, Audi and Lexus, plus used vehicles, parts, service and collision repair. It also runs commercial truck dealerships selling Freightliner and Western Star trucks, and distributes commercial vehicles, diesel and gas engines and power systems, mainly in Australia and New Zealand. Customers are retail car and fleet truck buyers across the US, UK, Canada and Western Europe.
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What we found
7 events · 0 from SEC or newswire · 2 timed with the move- Key eventTimed with the move
going_privatePenske Automotive Group agreed to be taken private by Motown Acquisition Corp., owned by Penske Corporation and Mitsui & Co., with shareholders to receive $212.00 per share in cash, an enterprise value of about $16.3 billion and an 8.84% premium, with Penske to hold ~64% and Mitsui ~36% after closing expected in Q1 2027.
- Timed with the move
dividend_changePenske Automotive Group's board declared a quarterly cash dividend of $1.46 per share, a $0.02 (+1.4%) increase bringing the annualized dividend to $5.84 per share, payable December 1, 2026 to shareholders of record November 13, 2026.
- Key event
debt_financingMitsui & Co. and Penske Corporation committed equity financing to buyer Motown Acquisition Corp. of up to US$1.6 billion and US$600 million respectively for the PAG going-private merger, lifting their PAG stakes to ~36% and ~64%.
debt_financingPenske Automotive Group entered the thirteenth amendment to its US credit agreement with lenders including Mercedes-Benz Financial Services USA, Toyota Motor Credit and Daimler Truck Financial Services, conditionally increasing revolving commitments by up to $900 million to as much as $2.4 billion, contingent on closing the merger and at least $2.2 billion of equity financing.
- Key event
guidance_changePenske Automotive's financial advisors BofA Securities, J.P. Morgan and Wells Fargo arranged up to $1.8 billion of committed debt financing and Penske and Mitsui committed up to $2.2 billion of equity financing for the $212-per-share take-private, with no financing condition.
demand_signalThe China Automobile Dealers Association reported the September auto dealer inventory coefficient at 1.68, up 6.3% month-on-month and 24.4% year-on-year, with estimated dealer inventory of about 2.7 million vehicles at end-September.
demand_signalChina's Passenger Car Association reported September passenger vehicle retail sales of 1.618 million units, down 28% year-on-year, with fuel-vehicle retail down 43% to 534,000 units and new-energy vehicle retail down 16.7% to 1.084 million units.