Penske Announces $16.3 Billion Deal

On October 15, 2026, Penske Automotive Group announced an agreement to be acquired by Penske Corporation and Japan's Mitsui & Co.

The transaction values the company at approximately $16.3 billion.

After the deal closes, Penske Corporation will own approximately 64% of the company, while Mitsui will hold 36%.

Penske Automotive Group is a major commercial truck retailer in North America, including Freightliner trucks. The company also owns a 28.9% stake in Penske Transportation Solutions, which provides truck rental, fleet maintenance, and logistics services.

The transaction is expected to close in the first quarter of 2027, subject to required approvals.

!What This Means for CDL Drivers

This is a major ownership change involving a company connected to commercial truck sales, rentals, and logistics.

For now, Penske has not announced changes to truck rental prices, driver pay, or logistics operations related to the deal.