A landmark deal between Penske Corp. and Mitsui has concluded after years of Penske Automotive Group stock trading publicly, transferring full ownership to the new corporate structure. The agreement marks a shift in control ahead of the eventual transition from longtime leader Roger Penske. With the transaction finalized, the automotive giant now operates under a consolidated corporate umbrella, eliminating its previous status as a publicly traded entity. The move signals a major restructuring as Penske prepares for leadership succession.
Penske Corp. and Mitsui's $3.9 billion offer ends a decades-long run for Penske Automotive Group stock and gives its owners full control as 89-year-old Roger Penske's eventual successor looms.
