# Penske Automotive Group Shares Rise Nearly 9% After $212 Buyout Pact By John Kim Canonical URL: https://www.tokenpost.com/news/business/33078 Published: 2026-10-16T06:16:43.000Z Updated: 2026-10-16T06:16:43.000Z Section: Business > Eligible common stockholders outside the investor group would receive $212 per share in cash, with closing targeted for the first quarter of 2027. Penske Automotive Group shares rose nearly 9% Thursday after the company agreed to a $212-per-share cash buyout by Motown Acquisition Corp., owned by Penske Corporation and Mitsui & Co., Ltd. Eligible common stockholders other than investor-group members would receive $212 per share in cash. The offer represents an 8.84% premium to the Oct. 14 closing price. Penske Automotive expects to continue regular quarterly dividend payments while the deal is pending. Each payment would be capped at $0.02 per share above the prior quarter’s rate, and a dividend covering part of a quarter could be prorated. The company’s quarterly dividend was recently raised to $1.46 per share from $1.44, as detailed in its [dividend increase announcement](). The parties are targeting completion in the first quarter of 2027. The transaction remains subject to regulatory clearance, shareholder approval and other closing conditions. ## Links in this article - [dividend increase announcement](https://www.tokenpost.com/news/business/32512)