Penske Automotive (PAG.N): Penske Corp and Mitsui Offer to Buy Remaining Shares

Research evidence excerpt

Penske Automotive (PAG.N): Penske Corp and Mitsui Offer to Buy Remaining Shares

Penske Automotive (PAG.N)

22 July 2026 Citi Research

Citigroup Global Markets Inc. or its affiliates received compensation for products and services other than investment banking

services from Lithia Motors, Inc. in the past 12 months.

Citigroup Global Markets Inc. or its affiliates currently has, or had within the past 12 months, the following as investment

banking client(s): Lithia Motors, Inc..

Citigroup Global Markets Inc. or its affiliates currently has, or had within the past 12 months, the following as clients, and the

services provided were non-investment-banking, non-securities-related: Lithia Motors, Inc..

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institutional clients and the management teams of covered companies. Typically, company management is more likely to

participate when the analyst has a positive view of the company.

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