Mergers and Acquisitions

Halla mulls buying back Visteon stake in climate control unit

7:34 pm U.S. ET | Nov. 26, 2014
Halla CEO Im Kee Young said he's still considering buying back the group's former automotive heater and air conditioner maker after a buyout fund agreed to acquire a stake in the business, Halla Visteon Climate Control.... Read More »

 

Delphi's Korean partner complicating sale of thermal unit

1:15 pm U.S. ET | Nov. 26, 2014
Delphi Automotive's sale of its air conditioning business is being complicated by potential problems with one of its South Korean joint venture partners, three people familiar with the deal said.... Read More »

 

Visteon confirms discussions to sell stake in climate control joint venture

8:16 am U.S. ET | Nov. 25, 2014
Visteon Corp. confirmed this morning that it's in discussions with a private equity firm to sell its stake in South Korean joint venture Halla Visteon Climate Control Corp.... Read More »

 

Canada helped bail out GM, Chrysler with incomplete information, auditor finds

12:19 pm U.S. ET | Nov. 25, 2014
Canada had limited information about the restructuring plans of GM and Chrysler Group when the government approved a $12.1 billion bailout for the automakers in 2009, federal auditors said.... Read More »

 

ZF expects surging sales of driver-assist systems

12:01 am U.S. ET | Nov. 24, 2014
German supplier ZF Friedrichshafen AG, which agreed to buy TRW Automotive Holdings in September for $13.5 billion, expects the combined company's sales of driver-assist safety systems to grow 15 to 25 percent a year. Those technologies, which will underpin tomorrow's autonomous cars, also will be the "major" part of the combined company's $2.1 billion r&d budget, ZF CEO Stefan Sommer said.... Read More »

 

TRW shareholders approve $13.5 billion takeover by ZF

7:21 am U.S. ET | Nov. 20, 2014
TRW Automotive shareholders today approved a $13.5 billion takeover offer by Germany's ZF Friedrichshafen, the companies said, paving the way for a new global automotive supply powerhouse to rival Robert Bosch.... Read More »

 

Semiconductor demand spurs merger activity

12:01 am U.S. ET | Nov. 17, 2014
Spurred by fast-growing markets for infotainment and collision avoidance, semiconductor suppliers are bulking up with a wave of mergers.... Read More »

 

GM's bankruptcy judge to retire, remain on recall status

3:32 pm U.S. ET | Nov. 17, 2014
The New York bankruptcy judge overseeing part of the fallout from General Motors' problems with faulty ignition switches will retire from the bench, but remain active in so-called recall status for at least a year, his court announced.... Read More »

 

Porsche SE faces more legal risks from botched VW takeover

Nov. 15, 2014 09:54 CET
Porsche SE has warned shareholders it could be forced to return "economic benefits" from a failed takeover of Volkswagen if former board members are convicted.... Read More »

 

Merger raises question about finance veteran Landy's next move

10:00 am U.S. ET | Nov. 12, 2014
The newly merged Flagship Credit Acceptance and CarFinance Capital will be led by Flagship CEO Michael Ritter, private-equity firm Perella Weinberg Partners, which oversees both companies, said in unveiling the deal last week. But Ritter's appointment raises a question about what's next for CarFinance Capital CEO Jim Landy.... Read More »

 

Cox Automotive to buy Xtime for $325M, enters service software business

3:30 pm U.S. ET | Nov. 11, 2014
Cox Automotive has agreed to pay $325 million in cash to buy Xtime, a leading provider of service scheduling and workflow software to dealerships, the companies announced today. The deal is expected to be completed in the next few days, said Keith Jezek, software division president at Cox Automotive.... Read More »

 

Benefits of Lithia-DCH deal go beyond numbers, CEO says

12:01 am U.S. ET | Nov. 10, 2014
Before Warren Buffett bought Van Tuyl Group in October, the buy/sell sensation of the year was Lithia Motors' surprise acquisition of DCH in June. Lithia paid $340 million in cash and another $22.5 million in stock for the 27-store group. But did Lithia over- or underpay for DCH?... Read More »

 

An FCA-VW merger? Brilliant, Krafcik says

12:01 am U.S. ET | Nov. 10, 2014
In July, Fiat Chrysler Automobiles and Volkswagen denied they were in merger talks after a German magazine reported discussions were underway. Still, John Krafcik, former CEO of Hyundai Motor America, told a media gathering in Detroit last week that he has studied the idea. His conclusion: "This is an absolutely brilliant combination."... Read More »

 

Visteon posts Q3 loss on one-time items, but revenue rises 33%

10:24 am U.S. ET | Nov. 6, 2014
Visteon said today it posted a $21 million net loss for the third quarter because of charges from discontinued operations, but revenue surged 33 percent, helped by its acquisition of Johnson Controls' electronics business.... Read More »

 

Continental unable to complete Veyance takeover, report says

Nov. 6, 2014 14:12 CET
Continental is unable to complete its acquisition of U.S. rubber firm Veyance Technologies and may need to sell one of the target company's divisions to win U.S. regulatory approval, a German magazine reported.... Read More »

 

Dealertrack raises financial targets after Q3 revenue surges

8:11 pm U.S. ET | Nov. 5, 2014
Dealertrack Technologies, which supplies a wide variety of auto dealership retail software and services, said its third-quarter business surged and it bumped up its revenue and profitability forecast for the year.... Read More »

 

Shiloh advances product strategy with U.S. tech center, acquisitions

1:59 pm U.S. ET | Nov. 5, 2014
Shiloh Industries is planning to open a new technical center in Michigan as part of the company's efforts to reinvent itself and grow with its automaker customers.... Read More »

 

VW joining with Fiat Chrysler would be 'brilliant' idea, Krafcik speculates

4:18 pm U.S. ET | Nov. 4, 2014
A merger of Fiat Chrysler Automobiles and Volkswagen would create a well-balanced global automaker that would be highly profitable, John Krafcik, president of auto-buying website TrueCar, said today.... Read More »

 

ZF and TRW usher in new era of deals

12:01 am U.S. ET | Nov. 3, 2014
In the wake of ZF's $13.5 billion acquisition of TRW Automotive, other merger and acquisition deals are bubbling up. Delphi Automotive reportedly wants to sell its thermal products division, and key semiconductor suppliers have been buying smaller competitors. Automotive suppliers are expected to close 211 deals this year, up 13 percent over 2013.... Read More »

 

Cooper-Standard profits rise on higher sales, M&A moves

12:40 pm U.S. ET | Oct. 31, 2014
Cooper-Standard Holdings reported higher earnings in the third quarter from increased North American and Asian sales as well as merger and acquisition activity.... Read More »

 

GM lawsuit poses danger to future bailouts, Treasury says

4:19 pm U.S. ET | Oct. 30, 2014
The Treasury Department says confidential information it received during the GM bailout should stay secret, otherwise at-risk companies needing government help in the future might not be willing to share data.... Read More »

 

Lithia will continue rapid acquisition pace after DCH

9:08 am U.S. ET | Oct. 30, 2014
Lithia Motors will continue its rapid pace of acquisitions over the next year despite just closing a huge deal to buy DCH Auto Group, executives said today. Their remarks came as Lithia reported its third-quarter net income increased 11 percent to $34.5 million.... Read More »

 

Fiat Chrysler Q3 profit rises on Jeep demand

9:16 am U.S. ET | Oct. 29, 2014
Fiat Chrysler Automobiles reported a 7.4 percent increase in profit in the third quarter, bolstered by sales growth in the United States.... Read More »

 

Edmunds.com buys startup, plans to offer texting services to dealerships

12:09 pm U.S. ET | Oct. 29, 2014
Edmunds has purchased a startup texting technology company that it helped nurture. The acquisition will enable Edmunds dealership subscribers to offer texting services to mobile customers.... Read More »

 

TRW's revenue slips 1%, net income falls 4% in Q3

11:02 am U.S. ET | Oct. 28, 2014
Automotive safety technology supplier TRW Automotive Holdings, preparing for its $13.5 billion acquisition by ZF Friedrichshafen, today said its third-quarter revenue dropped 1 percent to $4.16 billion from a year earlier, while net income fell 4 percent.... Read More »

 

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