PAG’s board approved a merger to acquire all public float of PAG. Mitsui & Co., Ltd. and Penske will acquire PAG for cash consideration via acquisition vehicles, and will subsequently increase their respective ownership stakes from approximately 20.3% to approximately 36% and from approximately 52.1% to approximately 64%. The tender is expected in Q4 of the fiscal year ending March 2027. Financing is expected to include third-party borrowings, but completion may not be conditioned on financing; regulatory approvals are required. This transaction is not included in the mid-term plan.<\/p>\n","protected":false},"comment_status":"open","ping_status":"closed","template":"","meta":{"Ticker":"","DATE":"","longName":"","company_name_ja":"","fullTimeEmployees":0,"address":"","phone":"","website":"","industry":"","sector":"","regularMarketPrice":0,"financialCurrency":"","marketCap":0,"fiftyTwoWeekLow":0,"fiftyTwoWeekHigh":0,"epsTrailingTwelveMonths":0,"epsForward":0,"bookValue":0,"totalRevenue":0,"OperatingIncome":0,"operatingMargins":0,"NetIncome":0,"profitMargins":0,"ebitda":0,"trailingPE":0,"forwardPE":0,"priceToBook":0,"returnOnEquity":0,"recommendationMean":0,"recommendationKey":"","targetMeanPrice":0,"numberOfAnalystOpinions":0,"analyst_earnings_data":"","dividendRate":0,"dividendYield":0,"payoutRatio":0,"totalEsg":0,"environmentScore":0,"socialScore":0,"governanceScore":0,"title":"","providerPublishTime":"","link":"","longBusinessSummary":"","longBusinessSummary_ja":"","quarterly_revenue":0,"quarterly_net_income":0,"quarterly_operating_profit":0,"enterprise_value":0,"price_fetched_at":"","company_officer_1_name":"","company_officer_1_title":"","company_officer_2_name":"","company_officer_2_title":"","company_officer_3_name":"","company_officer_3_title":"","company_officer_4_name":"","company_officer_4_title":"","company_officer_5_name":"","company_officer_5_title":"","company_officers_update_time":"","get_dividend_history_year1":0,"get_dividend_history_year2":0,"get_dividend_history_year3":0,"get_dividend_history_year4":0,"get_dividend_history_year5":0,"get_dividend_history_year6":0,"get_dividend_history_year7":0,"get_dividend_history_year8":0,"get_dividend_history_year9":0,"get_dividend_history_year10":0,"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"jir_stock_code":"8031","jir_company_name":"Mitsui & Co., Ltd.","jir_importance":"\u2605\u2605\u2605\u2605\u2606","jir_publication_date":"2026-10-15","jir_source_link":"https:\/\/japanir.jp\/wp-content\/uploads\/2026\/10\/8031-20261015-01.pdf","jir_short_summary":"PAG's board approved a merger to acquire all public float of PAG. Mitsui & Co., Ltd. and Penske will acquire PAG for cash consideration via acquisition vehicles, and will subsequently increase their respective ownership stakes from approximately 20.3% to approximately 36% and from approximately 52.1% to approximately 64%. The tender is expected in Q4 of the fiscal year ending March 2027. Financing is expected to include third-party borrowings, but completion may not be conditioned on financing; regulatory approvals are required. This transaction is not included in the mid-term plan.","jir_summary":"### Overview of the M&A\nMitsui & Co., Ltd. and Penske have entered into a merger agreement to acquire all public float of PAG. The acquisition will be conducted through acquisition vehicles; the conditions to be satisfied include approval by PAG shareholders and regulatory approvals. The cash consideration is 212 USD per share, and the target shares are expected to be approximately 18.29 million shares. After the acquisition, Mitsui & Co., Ltd.'s stake is expected to be approximately 36% and Penske's approximately 64%. Funding is expected to be covered by a combination of committed equity contributions and third-party borrowings. Completion is expected in Q4 of the fiscal year ending March 2027.\n\n### Impact and Schedule Going Forward\nThis transaction is not included in the mid-term management plan through 2029, and dilution and other impacts are expected to materialize after 2027. The estimated impact on consolidated results for the fiscal year ending March 2027 is minimal at present, and from 2028 onward additional earnings contributions are expected as ownership increases. Completion may not be conditional on financing in some scenarios, but regulatory and shareholder approvals are prerequisites.","jir_financial_highlights":"Merger consideration: 212 USD\/share (Unknown)\nImplied PAG valuation: approx. 13.9 billion USD (Unknown)\nEstimated number of shares to be acquired: 18,285,048 shares (Unknown)","jir_category":"","jir_hashtags":"#MitsuiAndCo, #PAG, #M&A, #CapitalAlliance","jir_key_figures":"212 USD\/share\napprox. 13.9 billion USD\n18,285,048 shares","jir_meta_title":"Mitsui & Co., Ltd. Approval of Merger to Acquire PAG Float | Impact toward Fiscal 2027","jir_meta_description":"A merger to acquire all public float of PAG has been approved by Mitsui & Co., Ltd. and Penske. Cash consideration is 212 USD per share; post-transaction ownership is expected to be approx. 36% for Mitsui & Co., Ltd. and approx. 64% for Penske. Completion is expected in fiscal 2027 Q4.","jir_og_title":"Merger Approved to Acquire PAG Float; Mitsui & Co., Ltd. and Penske to Provide Funding","jir_og_description":"A merger to acquire all public float of PAG has been approved. Cash consideration is 212 USD per share; estimated number of shares to be acquired is approx. 18.29 million shares. Completion is expected in fiscal 2027 Q4.","jir_og_image_url":"\/assets\/og\/company-general_ir.jpg","jir_chart_data_collection":"[]","ir_related_company":6849,"ir_release_date":"","ir_type":"","ir_is_new":false,"ir_document_url":"","jir_ir_type":"m_and_a_alliance","footnotes":""},"sector":[],"importance":[],"class_list":["post-131974","ir_release","type-ir_release","status-publish","hentry"],"yoast_head":"\n