Penske Automotive to Be Taken Private in $16.3 Billion Buyout Deal

Penske Automotive Group PAG 0.20%increase; up pointing triangle has agreed to be taken private by the transportation-services company’s biggest investors for about $4 billion. Penske Automotive on Thursday said privately held Penske Corp. and Japan’s and Mitsui 8031 0.00%increase; up pointing triangle & Co., which already own about 72% of the Bloomfield Hills, Mich., company,