Acquiring Company
Motown Acquisition
Acquired Company
Penske Automotive
DetroitBloomfield HillsAutomotiveHardwareOil And GasTransportationAutomotiveMotor Vehicle ManufacturingDescription
Motown Acquisition Corp. has agreed to a $212-per-share cash buyout of Penske Automotive Group. The transaction, targeting completion in the first quarter of 2027, is subject to regulatory clearance and shareholder approval. Present common stockholders outside the investor group will receive $212 per share in cash. Penske Automotive Group plans to continue regular dividend payments during the acquisition process.
Quick answer
Motown Acquisition is acquiring Penske Automotive, announced October 16, 2026. Motown Acquisition is based in Detroit, Michigan, United States.
- How much did Motown Acquisition pay for Penske Automotive?
- The deal value was not disclosed.
- What does Motown Acquisition do?
- Motown Acquisition Corp. is a special purpose acquisition company (SPAC) focused on acquiring businesses in the automotive sector.
- Where are Motown Acquisition and Penske Automotive based?
- Motown Acquisition is based in Detroit, Michigan, United States. Penske Automotive is based in Bloomfield Hills, Michigan, United States.
Source: Fundz verified event record.
Other recent acquisitions in Automotive and Hardware
Deals where the buyer or target shares a sector with this one, within 45 days, from Fundz verified event records.
- Penske Automotive Group to go private via Penske & Mitsui (October 15, 2026)
- Mitsui agrees to merge with Penske Automotive (October 15, 2026)
- International Seaways acquires Bruton Limited (October 16, 2026)
- Coast Counties Peterbilt acquires Peterbilt Truck Parts (October 6, 2026)
- Rubico to buy two MR tanker newbuilding SPVs (November 10, 2026)
- Palmdale Oil acquires Tri-County Oil Distributors (November 9, 2026)
Who to call at Motown Acquisition, and when
When Motown Acquisition changes hands, the new owners review vendors, systems and leadership. That is when the door opens.
- An alert the day Motown Acquisition raises, hires an executive or expands, scored against what you sell
- The decision-makers there, with verified emails
- Who you already know at Motown Acquisition, from your own LinkedIn network
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Fundz sees it the moment Motown Acquisition makes an acquisition, hires an exec or expands, usually minutes after it happens, and tells you who to reach.
Frequently asked
Who acquired Penske Automotive?
Penske Automotive was acquired by Motown Acquisition, based in Detroit. The deal was reported on October 16, 2026. Motown Acquisition Corp. is a special purpose acquisition company (SPAC) focused on acquiring businesses in the automotive sector. It is owned by Penske Corporation and Mitsui & Co., Ltd. Motown Acquisition is privately held and operates in Automotive.
When did Motown Acquisition acquire Penske Automotive?
Motown Acquisition's acquisition of Penske Automotive was reported on October 16, 2026. Motown Acquisition Corp. has agreed to a $212-per-share cash buyout of Penske Automotive Group. The transaction, targeting completion in the first quarter of 2027, is subject to regulatory clearance and shareholder approval. Fundz records the date the transaction was first publicly reported, sourced from filings and company announcements.
What does Penske Automotive do?
Penske Automotive Group, Inc., (NYSE: PAG) headquartered in Bloomfield Hills, Michigan, is a diversified international transportation services company and one of the world's premier automotive and commercial truck retailers. It is publicly traded (PAG), operating in Hardware, and is based in Bloomfield Hills.
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