Penske Automotive Gets Buyout Offer From Its Controlling Shareholders – Merger Arbitrage Mondays
Penske Automotive Group, Inc. (PAG): $217.35
Market Cap: $14.29 B
Offer Value: $13.8 B
Instead of writing about a deal with a definitive merger agreement, we decided to focus on a pre-deal situation that we found more interesting because minority shareholders could potentially end up with a higher price than the initial proposal.
Penske Corp. and Mitsui mad…
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