Mergers and Acquisitions

EDITORIAL

Be bold, spend big -- and don't go overboard Go global; think local

12:01 am U.S. ET | Jan. 26, 2015
Dealers, automakers and suppliers enter the new year on an investment kick.... Read More »

 

AMY WILSON

How to get a deal done

2:00 pm U.S. ET | Jan. 25, 2015
One of the reasons it might be a great time to sell your dealership? Some of the private equity groups scouting auto retail are so eager to put their investors' money to work, they'll overpay, says Tim York, managing partner of accounting firm Dixon Hughes Goodman.... Read More »

 

RICHARD JOHNSON

A new Gold Rush sweeps over California

12:45 pm U.S. ET | Jan. 25, 2015
Like Warren Buffett and George Soros, so-called hybrid buyers -- private equity funds and super-wealthy families and combinations of the two -- are on the hunt for dealership deals. This new category of dealership buyer could turn out to be as transformational as the six public groups that rolled up a significant part of the industry almost 20 years ago.... Read More »

 

George Soros' Wall Street fund shops for dealership groups

10:30 pm U.S. ET | Jan. 24, 2015
Wall Street fund Soros Fund Management wants to partner in, invest in or outright buy a large auto dealership group, according to four sources familiar with the situation. Two representatives of Soros Fund Management are at the NADA convention in San Francisco this weekend to research the industry and explore opportunities, sources say.... Read More »

 

EU regulators to rule on ZF's bid for TRW by Feb. 26

Jan. 23, 2015 15:09 CET
European Union antitrust authorities will decide by Feb. 26 whether to approve German supplier ZF Friedrichshafen's $13.5 billion bid for U.S. rival TRW Automotive.... Read More »

 

Chinese aerospace firm pursues acquisition of U.S. supplier Henniges, report says

6:34 am U.S. ET | Jan. 22, 2015
AVIC, China's biggest aerospace company, is among bidders pursuing an acquisition of US auto supplier Henniges Automotive Holdings, people with knowledge of the matter told Bloomberg. AVIC could pay $1 billion for the acquisition, Bloomberg reported.... Read More »

 

Paperwork error on GM loan will cost JPMorgan $1.5 billion, U.S. court rules

1:24 pm U.S. ET | Jan. 21, 2015
A 2008 paperwork error in a loan agreement with General Motors, before the automaker went into Chapter 11 bankruptcy, will cost JPMorgan Chase $1.5 billion, a federal appeals court ruled today.... Read More »

 

GM’s Treasury bailout records shouldn’t be secret, U.S. judge told

1:00 pm U.S. ET | Jan. 21, 2015
The Treasury’s role in shielding General Motors from car lawsuits after a 2009 bailout of the automaker isn’t confidential and should be made public, the Center for Auto Safety told a federal judge.... Read More »

 

Schaeffler shifts 34% Continental stake off balance sheet

Jan. 21, 2015 10:58 CET
Schaeffler says a 34 percent stake in rival Continental has been shifted off the books in a move toward a possible stock market listing. Schaeffler borrowed heavily to buy Continental in 2008 in a deal that unraveled during the financial crisis.... Read More »

 

Obama seeks authority to negotiate major trade deals

3:31 pm U.S. ET | Jan. 20, 2015
In his penultimate State of the Union address, President Barack Obama vowed to seek congressional authority to negotiate big ticket trade deals with European and Asian nations that could have significant implications for the auto industry, but have been stalled.... Read More »

 

Four former Chrysler dealers could reopen under U.S. appeals court ruling

2:58 pm U.S. ET | Jan. 20, 2015
One Las Vegas dealership and three former Detroit area dealerships -- Livonia Chrysler Jeep, Fox Hills Chrysler Jeep and Village Chrysler Jeep -- could get a chance to reopen more than five years after a Chrysler Group LLC decision to close them, according to a federal appeals court ruling.... Read More »

 

TI Automotive, Bain near deal a year after failed effort, report says

9:10 am U.S. ET | Jan. 14, 2015
TI Automotive, the auto fuel-systems maker that came close to a deal with Bain Capital Partners LLC last year, is again near an agreement to sell itself to the private equity firm, people with knowledge of the matter told Bloomberg.... Read More »

 

2015 AUTOMOTIVE NEWS WORLD CONGRESS

Marchionne sees industry consolidation as a given

9:38 pm U.S. ET | Jan. 13, 2015
Fiat Chrysler Automobiles CEO Sergio Marchionne said further mergers in the automotive industry are inevitable, and questioned the way safety regulators are exercising their powers.... Read More »

 

Toyota welcomes Buffett to car business with Hollywood burgers

7:24 am U.S. ET | Jan. 13, 2015
When billionaire investor Warren Buffett became the newest entrant in the auto-dealership business last year, Toyota rolled out the red carpet. The world’s largest carmaker welcomed Buffett within weeks after his Berkshire Hathaway agreed to acquire Van Tuyl Group, the largest privately held US auto dealer group.... Read More »

 

DUSTIN WALSH

ZF CEO tells TRW staffers that jobs are safe

12:53 pm U.S. ET | Jan. 12, 2015
The $12.4 billion acquisition of TRW Automotive Holdings by Germany's ZF Friedrichshafen AG has many in metro Detroit afraid. But ZF CEO Stefan Sommer said at the Detroit auto show that those worries are for naught.... Read More »

 

Marchionne says industry may have over-reacted on recalls

12:11 pm U.S. ET | Jan. 12, 2015
Fiat Chrysler Automobiles CEO Sergio Marchionne today said incentive spending in the United States is not excessive and that the industry may have over-reacted on recalls.... Read More »

 

Obama touts auto bailout success; Michigan worries about trade

3:51 pm U.S. ET | Jan. 7, 2015
President Barack Obama, on a trip to unveil elements of his State of the Union address, took a victory lap in Michigan on Wednesday to tout his support of the auto industry, but concerns about trade policies hung in the background of his tour.... Read More »

 

Visteon names two new board members

11:57 am U.S. ET | Jan. 7, 2015
Visteon named two new members to its board amid a flurry of merger and acquisition activity at the supplier in recent months.... Read More »

 

Lear completes acquisition of automotive leather supplier Eagle Ottawa

10:44 am U.S. ET | Jan. 6, 2015
Seating and electronics supplier Lear has closed on its $850 million acquisition of automotive leather supplier Eagle Ottawa LLC.... Read More »

 

Ferrari spinoff sets up Fiat Chrysler for another deal

Jan. 6, 2015 11:51 CET
Sergio Marchionne may not be finished with deals just yet. After completing the merger of Fiat and Chrysler and announcing a spinoff of Ferrari, the CEO said the industry is still fragmented and ripe for further consolidation.... Read More »

 

Ally completes $1 billion sale in Chinese joint venture to GM

10:29 am U.S. ET | Jan. 5, 2015
Ally Financial said today that it completed the sale of its stake in a joint venture with a Chinese auto lender to General Motors for $1 billion.... Read More »

 

Ally sale leaves U.S. taxpayers with $9.3 billion loss on auto rescues

9:24 pm U.S. ET | Dec. 29, 2014
American taxpayers lost $9.3 billion on the government's bailout of auto companies following the Treasury Department's sale of its remaining stake in Ally Financial. The Treasury took in $70.4 billion from the rescue of GM, Chrysler, Ally and others after spending nearly $80 billion in taxpayer funds, data released Monday show.... Read More »

 

JIM HENRY

Free of U.S. ownership, Ally expects cheaper funds, maybe more subprime deals

3:13 pm U.S. ET | Dec. 19, 2014
Ally Financial is “free at last,” to borrow a phrase CEO Michael Carpenter used earlier this year to describe how it would feel for Ally finally to put six years of government ownership behind it.... Read More »

 

Ally's six-year bailout ends after U.S. sells $1.28 billion stake

7:48 pm U.S. ET | Dec. 18, 2014
The Treasury disposed of its remaining $1.28 billion stake in auto lender Ally Financial, resolving the last big bailout from an emergency government program to halt the 2008 financial crisis. Ally said the government ultimately gained $2.4 billion from its investment.... Read More »

 

Dealertrack expands beyond U.S. with acquisition of German software provider

11:54 am U.S. ET | Dec. 18, 2014
Dealer software giant Dealertrack Technologies is expanding beyond North America with the acquisition of incadea, a dealer software provider based in Germany. Dealertrack plans to pay just over $190 million in cash for publicly traded incadea, the companies said today.... Read More »

 

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