Mergers and Acquisitions

Opel CEO rules out deal with Fiat

May 28, 2015 12:52 CET

Opel CEO Karl-Thomas Neumann has ruled out a deal with Fiat after its CEO Sergio Marchionne suggested carmakers need to consolidate to cut costs. Neumann also said it was a "big mistake" for Opel to search for scale with PSA/Peugeot-Citroen and not within GM.... Read More »

DAVE GUILFORD

BLOG: Sergio's merger talk could mean more heartburn for FCA workers

1:29 pm U.S. ET | May 28, 2015

Reaction to Sergio Marchionne's campaign to spur mergers has focused on other automakers, who seem notably unenthused, at least in public. But I wonder about the reaction in Marchionne's own house, Fiat Chrysler.... Read More »

Marchionne sees industry merger by 2018

7:10 am U.S. ET | May 28, 2015

FCA CEO Sergio Marchionne is convinced a merger in the auto industry will happen before 2018, he said during a visit to the carmaker's Melfi plant in southern Italy.... Read More »

GM president rebuffs Marchionne's merger talk

May 26, 2015 17:10 CET

General Motors sees no need to merge with another automaker to maintain profitability, the company's president, Dan Ammann, said. Ammann was commenting after a report said Fiat Chrysler Automobiles CEO Sergio Marchionne had sent an email to General Motors CEO Mary Barra suggesting combining the automakers.... Read More »

Marchionne approached GM about a merger, but was rebuffed, NYT reports

8:31 pm U.S. ET | May 23, 2015

As part of his quest for a mega merger, FCA CEO Sergio Marchionne sent an email to General Motors CEO Mary Barra in March suggesting combining the automakers but was rebuffed, the New York Times reported on Saturday.... Read More »

Autobytel acquires rival Dealix for $25 million

4:00 pm U.S. ET | May 21, 2015

Autobytel, one of the largest providers of sales leads to auto dealers, has purchased longtime rival Dealix for $25 million in cash. The deal brings together two of the most-prominent providers of leads, which are vehicle-buying prospects who want to be contacted by a dealer. They typically cost dealers $20 a piece.... Read More »

German carmakers team up with private equity firm to bid for Nokia map unit, report says

May 21, 2015 16:48 CET

Mercedes, Audi and BMW have teamed up with private equity firm General Atlantic to raise their chances of clinching Nokia's map unit HERE, a report said. Automakers use HERE's maps in vehicle navigation systems and are counting on them to provide crucial context for upcoming collision-detection systems.... Read More »

Continental to buy Elektrobit auto unit in bid to boost autonomous tech

May 19, 2015 11:07 CET

Continental will buy the automotive business of Finnish software and hardware company Elektrobit Oyj for 600 million euros ($680 million) as the German company seeks to strengthen its position in automated driving technology.... Read More »

What drew Mazda, Toyota together?

12:01 am U.S. ET | May 17, 2015

Akio Toyoda and Masamichi Kogai sounded more like lovebirds than CEOs when they announced a shared vision for wide-ranging Toyota-Mazda cooperation. Yet it is still unclear what that vision is and how it will play out in joint projects.... Read More »

Penske seeks $1 billion for truck parts unit, report says

3:38 pm U.S. ET | May 15, 2015

Roger Penske's holding company is exploring a sale of Truck-Lite in a deal that could value the maker of lighting, wiring harnesses and mirrors for trucks at close to $1 billion, people familiar with the matter told Reuters.... Read More »

Icahn invests $100 million in Lyft as Uber rivalry grows

11:51 am U.S. ET | May 15, 2015

Lyft raised an additional $150 million, led by an investment of $100 million from Carl Icahn's investment company, raising the stakes in the car-hailing service's rivalry with Uber Technologies.... Read More »

ZF completes $12.4 billion acquisition of TRW

10:26 am U.S. ET | May 15, 2015

German auto supplier ZF Friedrichshafen AG said today that it has completed its $12.4 billion acquisition of safety systems supplier TRW Automotive Holdings.... Read More »

F&I product provider to buy rival in cash deal

11:45 am U.S. ET | May 13, 2015

AmTrust Financial Services agreed to buy Warranty Solutions, owned by Wells Fargo, for $152 million in cash. Finance and insurance product providers say the deal signals further consolidation in the product industry.... Read More »

Marchionne reiterates call for consolidation

6:21 am U.S. ET | May 11, 2015

Sergio Marchionne said he hasn't given up on his quest to push the auto industry to increase its profitability, even though carmakers are enjoying some of their best sales ever.... Read More »

How Tesla sent penny stock soaring 4,400%

12:48 pm U.S. ET | May 8, 2015

Market regulators halted trading on a penny stock from defunct Riviera Tool Company that was incorrectly linked to the Tesla Motors acquisition of Riviera Tool LLC.... Read More »

De Tomaso brand sale leaves Italian factory's future uncertain

May 7, 2015 15:24 CET

The sale of iconic Italian sports car brand De Tomaso to Hong Kong investment fund Ideal Team Ventures has created a headache for Turin's local authorities, who now own a dormant factory and are responsible for 800 jobless workers.... Read More »

Tesla to buy Mich. stamped-parts supplier

1:09 pm U.S. ET | May 7, 2015

Tesla Motors is acquiring one of its suppliers of stamped parts, Michigan-based Riviera Tool, the automaker confirmed today.... Read More »

Visteon posts Q1 sales bump after acquisition

10:54 am U.S. ET | May 7, 2015

Visteon today reported strong first-quarter profits and sales thanks in large part to its 2014 acquisition of Johnson Controls' global electronics business.... Read More »

JAMIE LaREAU

BLOG: Lithia reaches out to women in step toward industry evolution

12:13 pm U.S. ET | May 6, 2015

Lithia has about 10,000 employees -- a quarter of them are women. But Lithia wants to hire more women at every level and it's doing something about it.... Read More »

ZF wins U.S. approval for TRW acquisition with divestitures

May 6, 2015 09:36 CET

ZF Friedrichshafen won U.S. antitrust approval to buy TRW Automotive on the condition it sells TRW's linkage and suspension business in North America and Europe. The merger of ZF and TRW will create the world's second-largest supplier.... Read More »

Chinese automakers Dongfeng, FAW halt trading on merger reports

May 5, 2015 08:09 CET

Chinese automakers Dongfeng Motor, which has a 14 percent stake in PSA, and FAW Group, a joint venture partner of VW, today halted trading in shares of their listed subsidiaries, with Dongfeng saying it checked into reports that the two companies would merge.... Read More »

TRW says Q1 revenue up 7%, profits rise

3:36 pm U.S. ET | May 5, 2015

TRW Automotive, which is being acquired by German supplier ZF Friedrichshafen, said today that first quarter revenue grew 7 percent from last year, excluding effects of currency and divested business.... Read More »

AMY WILSON

BLOG: Family takes Dave Smith name forward

1:58 pm U.S. ET | May 1, 2015

Ken Smith wants his dad’s name to live on. And it’s about to, in a much bigger way.... Read More »

LUCA CIFERRI

BLOG: Why Marchionne needs a powerful 'mother-in-law'

5:59 am U.S. ET | April 30, 2015

Fiat Chrysler CEO Sergio Marchionne will need a powerful, influential mother-in-law to help initiate the megamergers that he covets.... Read More »

Bidding auction for De Tomaso won by Chinese fund

April 30, 2015 11:49 CET

A Hong Kong-based investment fund called Ideal Team Venture has acquired Italy's iconic De Tomaso sports car brand for just over 1 million euros. Ideal Team has until tomorrow to pay, leaving industry observers skeptical the deal will be completed.... Read More »

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