---
schema_version: "secwatch.filing_event.v1"
accession: "0001140361-26-039664"
form_type: "8-K"
ticker: "PAG"
cik: "0001019849"
company_name: "PENSKE AUTOMOTIVE GROUP, INC."
filed_at: "2026-10-15T10:59:40+00:00"
generated_at: "2026-10-15T11:06:04.479995+00:00"
event_type: "m_and_a"
sentiment: "neutral"
materiality_score: 0.9
calibrated_materiality_score: 0.9
confidence: "high"
source: SEC EDGAR
---

# Penske Automotive to be taken private by Penske Corp and Mitsui for $212.00 per share in cash

## Summary
- PAG to be acquired by Motown Acquisition Corp (owned by Penske Corp and Mitsui) for $212.00/share in cash; merger agreement dated Oct 15, 2026.
- Investor Group owns ~72.6% of PAG shares; post-close PC and Mitsui expected to own ~64% and 36%; PAG will delist from NYSE and deregister.
- Special Committee, advised by Moelis, unanimously found merger fair; Board approved with affiliated directors recused; requires majority of outstanding shares plus majority of disinterested votes.
- Termination fees: $383.0M payable by PAG if it exits for a superior proposal; $488.0M reverse termination fee payable by Buyer if it breaches or fails to close.
- Financing: up to $2.2B equity from PC/Mitsui; up to $1.8B debt from JPMorgan, BofA, Wells Fargo. U.S. credit agreement increased to $2.4B from $1.5B; $606.0M borrowings as of Oct 12, 2026.

## SEC filing metadata
- accession: 0001140361-26-039664
- form_type: 8-K
- ticker: PAG
- cik: 0001019849
- company_name: PENSKE AUTOMOTIVE GROUP, INC.
- filed_at: 2026-10-15T10:59:40+00:00
- event_type: m_and_a
- sentiment: neutral
- materiality_score: 0.9
- calibrated_materiality_score: 0.9
- confidence: high
- sec_items: 1.01, 2.03, 5.02, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1019849/000114036126039664/0001140361-26-039664-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1019849/000114036126039664/ef20083688_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001140361-26-039664
- JSON: https://secwatch.observer/filing/0001140361-26-039664.json
- Plain text: https://secwatch.observer/filing/0001140361-26-039664.txt

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