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July 22 (Reuters) - Penske Corp and Mitsui <8031.T>, the controlling shareholders of Penske Automotive Group, have offered $210 per share in cash to take the auto dealership chain private, according to a regulatory filing on Wednesday.
Penske Automotive Group's shares rose over 11% during morning trade.
• In a separate release, Japanese trading house Mitsui said the total estimated acquisition cost for the two companies would come to $3.8 billion.
• Transportation company Penske Corp owns over 52% of Penske Automotive Group, while Mitsui holds over 20%.
• Publicly traded auto dealership groups like Penske Automotive Group are attractive to investors because of recurring service revenue and continued industry consolidation.
• PAG operates dealerships in the U.S., UK, Canada, Germany, Italy and Japan. It also retails commercial vehicles, engines, power systems and related parts and services, primarily in Australia and New Zealand.
• The company was founded as United Automotive Group in 1990 and nine years later came under the control of former race car driver Roger Penske's private holding company, Penske Corp.
• In 2001, Mitsui made its initial investment in the company, which was renamed Penske Automotive Group in 2007.
(Reporting by Aatreyee Dasgupta in Bengaluru; Editing by Sahal Muhammed)
