Textron deal receives approval

DETROIT - The planned acquisition of Textron Inc.'s automotive trim business by Collins & Aikman Corp. has received antitrust clearance from the Federal Trade Commission.

Collins & Aikman of Troy, Mich., controlled by Heartland Industrial Partners, has agreed to pay $1.2 billion in cash and preferred stock. The deal is expected to enhance the size, customer base and global reach of Collins & Aikman and make it a major suppler to giant Tier 1 auto interiors suppliers such as Lear Corp. and Johnson Controls Inc.

ATTENTION COMMENTERS: Automotive News has monitored a significant increase in the number of personal attacks and abusive comments on our site. We encourage our readers to voice their opinions and argue their points. We expect disagreement. We do not expect our readers to turn on each other. We will be aggressively deleting all comments that personally attack another poster, or an article author, even if the comment is otherwise a well-argued observation. If we see repeated behavior, we will ban the commenter. Please help us maintain a civil level of discourse.


Email Newsletters
  • General newsletters
  • (Weekdays)
  • (Mondays)
  • (As needed)
  • Video newscasts
  • (Weekdays)
  • (Weekdays)
  • (Saturdays)
  • Special interest newsletters
  • (Thursdays)
  • (Tuesdays)
  • (Monthly)
  • (Monthly)
  • (Wednesdays)
  • (Bimonthly)
  • Special reports
  • (As needed)
  • (As needed)
  • Communication preferences
  • You can unsubscribe at any time through links in these emails. For more information, see our Privacy Policy.