A landmark deal between Penske Corp. and Mitsui has concluded after years of speculation, transferring full ownership of Penske Automotive Group and marking the end of its public trading history. The $3.9 billion acquisition consolidates control under new ownership as the company prepares for leadership transition following the retirement of its longtime founder. With the founder’s successor set to take the helm, the move reshapes the automotive retail giant’s future. The agreement also signals a major shift in corporate strategy amid evolving industry challenges.
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.
