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 pivotal shift as the company prepares for leadership transition following the long tenure of its founder. With the acquisition finalized, Penske Corp. now consolidates control over its automotive operations ahead of future strategic moves. The move underscores a major restructuring in one of the automotive industry’s most influential firms.
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.
