Penske Automotive Group

Penske Automotive Group has entered into a merger agreement to be taken private by Motown Acquisition Corp., an entity owned by Penske Corporation and Mitsui & Co., for $212.00 per share in cash, valuing the company at an enterprise value of approximately $16.3 billion. Upon completion, Penske will hold about 64% and Mitsui 36%.

Penske Automotive Group acquired Bill Brown Ford in Livonia, Michigan, expected to add $550 million in estimated annualized revenue. The acquisition includes over 200,000 sq ft of facilities.