Penske Automotive special committee hires Moelis and Paul Weiss for take-private review

PR Newswire··USJP·Read original
3▲1 ▼0Impact / 5
Summary · why it matters

The special committee of Penske Automotive Group's board has retained Moelis & Company as its independent financial advisor and Paul, Weiss, Rifkind, Wharton & Garrison as its independent legal counsel to evaluate the unsolicited take-private proposal from Penske Corporation and Mitsui & Co. The proposal, received on July 22, 2026, offers $210 per share in cash for the remaining common stock not already owned by the two entities and their affiliates. The committee was established to review the preliminary, non-binding offer, and the company cautioned that there is no assurance a deal will be reached or on what terms. Penske Automotive said it does not intend to comment further unless disclosure is deemed appropriate or required, and shareholders do not need to take any action at this time.

Impact on assets 3

Consumer Discretionary▲ · 1 stocks
Financials▲ · 1 stocks
Moelis & Co
MC
▲ PositiveCapitalrelevance

Hired as financial advisor for the take-private review, generating advisory fees.

Energy Transition & Power Demand▲ · 1 stocks
Mitsui & Co.,Ltd
8031
± MixedCapitalrelevance

Proposed acquirer in take-private offer; deal terms and completion uncertain.

Off-coverage companies 1

Paul, Weiss, Rifkind, Wharton & Garrison LLPPrivate▲ Positive
Capitalrelevance

Retained as legal counsel for the special committee, earning fees.

© 2026 MarketIVNews