Near-$4 Billion Take-Private Bid Reported for Penske Automotive Group

The Wall Street Journal reported a near-$4 billion bid to take Penske Automotive Group (NYSE: PAG) private, involving Penske Corp., PAG's parent holding company, and Japan's Mitsui & Co., which classifies PAG within its Automotives segment. No merger agreement, financing terms, or SEC filings have been confirmed. PAG trades publicly on the NYSE and is headquartered in Bloomfield Hills, Michigan.