PENSKE AUTOMOTIVE GOES PRIVATE IN $16.3 BILLION DEAL

Penske Automotive Group ($PAG) agreed to go private in a deal that values the auto dealership group at an enterprise value of roughly $16.3 billion. Penske Corp and Mitsui, which already control the company, will pay $212 per share in cash — an 8.84% premium to Wednesday's closing price, but a 26.17% premium to the stock's 90-day average. The deal is expected to close in the first quarter of 2027.