secwatch.observer — SEC 8-K summary
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Issuer:     PENSKE AUTOMOTIVE GROUP, INC. (PAG)
CIK:        0001019849
Form:       8-K
Filed at:   2023-12-22T23:59:59+00:00
Accession:  0001019849-23-000195
Event type: m_and_a
Sentiment:  neutral
Materiality: 0.45
Item codes: 1.01
LLM model:  deepseek-v4-flash:cloud@v2

Penske Automotive buys Don Allen Ford and Chrysler Dodge Jeep Ram dealerships on Nantucket for $12.34M
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- Stock Purchase Agreement with Penske Investments Limited Partnership (affiliate of CEO Roger Penske) to acquire Don Allen Auto Service for $12.34M cash.
- Dealerships include Don Allen Ford Nantucket and Don Allen Chrysler Dodge Jeep Ram, plus associated real property.
- Purchase price subject to adjustment based on net worth at closing; $650,000 holdback retained.
- Closing expected in Q1 2024, subject to manufacturer approvals and customary conditions.
- Transaction is a related party transaction; seller is an affiliate of CEO Roger Penske.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1019849/000101984923000195/0001019849-23-000195-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1019849/000101984923000195/pag-20231222.htm
  HTML page:      https://secwatch.observer/filing/0001019849-23-000195

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