---
schema_version: "secwatch.filing_event.v1"
accession: "0001019849-23-000137"
form_type: "8-K"
ticker: "PAG"
cik: "0001019849"
company_name: "PENSKE AUTOMOTIVE GROUP, INC."
filed_at: "2023-09-22T23:59:59+00:00"
generated_at: "2026-06-10T09:28:22.059085+00:00"
event_type: "m_and_a"
sentiment: "neutral"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# Penske Automotive and Hedin Mobility submit revised 32p/share non-binding bid for Pendragon PLC

## Summary
- PAG International (Penske) and Hedin Mobility jointly propose 32 pence per share cash for all Pendragon shares.
- Proposal is non-binding and subject to due diligence, antitrust approvals, and external debt financing.
- Pendragon board will consider the revised proposal; existing Lithia Motors acquisition deal with shareholder vote on 6 Oct remains.
- Approximately 28.8% of Pendragon shareholders irrevocably committed to Lithia deal; 11.5% released if firm bid recommended.
- Deadline for firm offer under UK Takeover Code is 5pm on 18 October 2023.

## SEC filing metadata
- accession: 0001019849-23-000137
- form_type: 8-K
- ticker: PAG
- cik: 0001019849
- company_name: PENSKE AUTOMOTIVE GROUP, INC.
- filed_at: 2023-09-22T23:59:59+00:00
- event_type: m_and_a
- sentiment: neutral
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1019849/000101984923000137/0001019849-23-000137-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1019849/000101984923000137/pag-20230922.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001019849-23-000137
- JSON: https://secwatch.observer/filing/0001019849-23-000137.json
- Plain text: https://secwatch.observer/filing/0001019849-23-000137.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.