A landmark deal between Penske Corp. and Mitsui has concluded after years of Penske Automotive Group stock trading publicly, marking a shift in ownership and control. The $3.9 billion acquisition removes the company from the open market, consolidating its future under new leadership. With founder Roger Penske nearing the end of his tenure, the transition signals a major restructuring for the automotive retail giant. The move eliminates lingering uncertainty over Penske’s succession while reshaping the company’s long-term strategy.
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.
