Mitsui and Penske Corporation to take Penske Automotive private at $210 per share

PAG Penske Automotive Group Inc

$212.79 +0.20%

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UTZ 0.00%

1. 1Mitsui (20.3%) and Penske Corporation (52%), Penske Automotive's (PAG) two existing largest shareholders, announced they will take the company private by acquiring the remaining 27.8% stake.
2. 2The offer price is $210 per share, valuing the company at $13.8 billion, and on the news shares rose 10.32% to $215.34, hitting a 52-week high of $218.63 that day.
3. 3Mitsui said it has supported PAG's growth strategy since its first investment in 2001 and will continue to support business development to respond to technological changes.

Source GuruFocus.com +3 · View original ↗

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