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Penske Automotive Group Inc. to Go Private at $16.3 Billion Valuation

The Wall Street Journal +4 ·

PAG
PAG Penske Automotive Group Inc
$194.79 -0.45%
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  1. 1Penske Automotive Group Inc. has signed an agreement with its two largest shareholders to go private at a $16.3 billion valuation.
  2. 2Motown Acquisition Corp. plans to acquire the company at an acquisition price of $212 per share.
  3. 3The combined ownership of Penske Automotive common stock held by Penske Corp. and Mitsui is approximately 72%.

So what's the key point?

Penske Automotive Group Inc. has decided to leave the stock market for a large sum of money. The company's value was determined as it agreed to be transferred at $212 per share.

Source The Wall Street Journal +4 · View original ↗

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