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

The Wall Street Journal reports a near-$4 billion bid to take Penske Automotive Group (NYSE: PAG) private. The would-be buyers: Penske Corp., PAG's parent, and Japan's Mitsui & Co. No merger agreement, financing terms, or SEC filings are confirmed yet. PAG trades on the NYSE and is based in Bloomfield Hills, Michigan.