Report: $4 Billion Offer to Buy Penske Auto Group Outright

The Wall Street Journal reports a near-$4 billion offer to buy Penske Automotive Group outright — meaning shareholders would be paid and the company would stop trading publicly. The buyers: Penske Corp., its parent company, and Japan's Mitsui & Co. Nothing is finalized: no deal, loan details, or regulatory filings are confirmed. PAG trades on the NYSE, based in Bloomfield Hills, Michigan.