Penske Automotive receives unsolicited proposal from Penske Corp. and Mitsui to acquire remaining shares

The preliminary, nonbinding offer will be reviewed by a special committee; Penske Corp., Mitsui and affiliates own 72.6% of common stock

Penske Automotive Group said Penske Corp. and Mitsui & Co. Ltd. have proposed buying the shares they do not already own at $210 per share in cash.