Mergers and Acquisitions

Johnson Controls diversifies away from autos with $1.6 billion deal

2:54 pm U.S. ET | April 16, 2014
Johnson Controls, seeking to lessen its reliance on the cyclical auto industry, agreed to acquire Texas-based ventilation products company, Air Distribution Technologies, for $1.6 billion.... Read More »

 

Ontario plans to unload remaining stake in GM

1:29 pm U.S. ET | April 11, 2014
The Canadian province of Ontario plans to sell its remaining shares of General Motors Co. in the next year as part of a review of its state-owned assets.... Read More »

 

Ally raises $2.38 billion in IPO priced at $25 a share

6:00 pm U.S. ET | April 9, 2014
Ally Financial raised $2.38 billion in its initial public offering after pricing the shares at the bottom of the proposed range. The shares, listed on the New York Stock Exchange under the symbol ALLY, fell 4 percent today to close at $23.98.... Read More »

 

Airbag, seat belt supplier Key Safety expected to be sold to Chinese firm, report says

6:32 am U.S. ET | April 8, 2014
Key Safety Systems, a maker of components for the auto industry, is close to being bought by Chinese private equity company FountainVest Partners for as much as $800 million, people with knowledge of the matter told Bloomberg.... Read More »

 

THE GM RECALL

Bailout task force unaware of GM faulty switches, report says

7:39 am U.S. ET | April 3, 2014
The task force President Barack Obama set up to manage General Motors' bailout and bankruptcy in 2009 wasn't aware of the faulty ignition switches linked to 13 deaths in small cars, people familiar with the matter told Bloomberg.... Read More »

 

Beijing Auto looking to acquire a brand in Europe or U.S

April 3, 2014 08:21 CET
Beijing Automotive said it wants to buy a "mid- to high-end brand" in Europe or the United States to boost its global presence and it already has candidates in mind.... Read More »

 

Ally Financial CEO Carpenter won't get pay hike, U.S. Treasury says

7:41 pm U.S. ET | April 2, 2014
The Obama administration is holding the total compensation unchanged this year for the head of bailed-out auto lender Ally Financial, the Treasury Department said on Wednesday.... Read More »

 

Enterprise expands car-sharing business into Canada

6:23 pm U.S. ET | March 27, 2014
Enterprise Holdings’ Canadian subsidiary has purchased a car-sharing company in Toronto. Enterprise Rent-A-Car Canada’s acquisition of AutoShare CarSharing Network is the Canadian subsidiary’s first entry into the car-sharing business.... Read More »

 

Warranty Group changes hands to another private equity firm

12:01 am U.S. ET | March 26, 2014
The Warranty Group, a provider of extended-service contracts, is moving from one private-equity owner to another. TPG of Fort Worth, Texas, has agreed to acquire The Warranty Group from Onex Corp of Toronto. TPG and Onex said the deal was worth about $1.5 billion and is expected to close in the third quarter.... Read More »

 

Porsche SE has 2.61 billion euros available for acquisitions

March 19, 2014 14:12 CET
Porsche SE plans to spend the bulk of its 2.61 billion euro ($3.64 billion) cash pile on acquisitions beyond its controlling stake in Volkswagen Group.... Read More »

 

Presidio founder to head automotive practice

12:20 pm U.S. ET | March 18, 2014
Presidio, a key player in the buying and selling of auto dealerships in the United States, last week named a new head of its automotive investment banking practice after the recent departure of the practice's former leaders.... Read More »

 

Scania committee recommends rejection of Volkswagen's bid

March 18, 2014 13:40 CET
A Scania board committee recommended minority owners reject Volkswagen's bid for the rest of the Swedish truckmaker, saying the $9.33 billion offer for the stock VW doesn't own is too low.... Read More »

 

Porsche wins dismissal of hedge funds' suit over failed VW bid

March 17, 2014 14:34 CET
Porsche Automobil Holding won the dismissal of a lawsuit seeking $1.95 billion over the German carmaker's aborted takeover of Volkswagen.... Read More »

 

Marchionne forecasts higher Fiat Chrysler Q1 profit

March 14, 2014 06:01 CET
Fiat CEO Sergio Marchionne predicted first-quarter earnings will rise amid ''strong'' industrywide demand this month for Chrysler in the United States. Marchionne also forecast that Fiat-Chrysler's deliveries may reach 5 million in 2016.... Read More »

 

Marchionne says Fiat Chrysler's Q1 profit to climb on U.S. results

March 13, 2014 19:35 CET
Fiat CEO Sergio Marchionne predicted first-quarter earnings will rise amid “strong” industrywide demand this month for Chrysler in the United States. Business in the United States is going well, while the Brazilian market is “choppy,” Marchionne told reporters today in Geneva.... Read More »

 

Marchionne says Fiat Chrysler's Q1 profit to climb on U.S. results

1:35 pm U.S. ET | March 13, 2014
Fiat CEO Sergio Marchionne predicted first-quarter earnings will rise amid “strong” industrywide demand this month for Chrysler in the United States. Business in the United States is going well, while the Brazilian market is “choppy,” Marchionne told reporters today in Geneva.... Read More »

 

Cars.com drawing interest from AutoTrader owners Cox, Apax, report says

7:36 am U.S. ET | March 12, 2014
Cox Enterprises, the media holding company, and London-based buyout firm Apax Partners, are interested in bidding for auto-sales Web site Cars.com, people with knowledge of the matter told Bloomberg.... Read More »

 

Tesla, Apple supplier Amtek bets auto industry will fuel its growth

9:30 am U.S. ET | March 10, 2014
Amtek Engineering, the Singapore maker of auto parts for Tesla Motors and chargers for Apple iPhones, plans to double sales to $2 billion in five to seven years through acquisitions.... Read More »

 

Cars.com's owners considering sale of Web site business, report says

7:09 am U.S. ET | March 10, 2014
Classified Ventures LLC, the media company backed by five newspaper publishers including Gannett and McClatchy, is working with Moelis to seek a sale of its Cars.com Web site, a person with knowledge of the matter told Bloomberg.... Read More »

 

Drive for robust F&I menus spurs vendor mergers

12:01 am U.S. ET | Feb. 26, 2014
Get ready for some name changes -- at the very least -- among the F&I vendors you work with. More mergers and acquisitions are likely in the F&I products space this year, F&I administrators say. F&I vendors are motivated to combine so they can offer a complete menu of F&I products instead of specializing in one or two. Full menus can be more convenient and attractive to dealerships than dealing with multiple vendors.... Read More »

 

VW offers 6.7 billion euros to purchase rest of truckmaker Scania

Feb. 21, 2014 23:22 CET
VW Group is bidding 6.7 billion euros for the rest of truckmaker Scania to deepen cooperation with its other commercial-vehicles units after being blocked previously in those efforts by the Swedish company's minority shareholders.... Read More »

 

VW offers $9.2 billion to purchase rest of truckmaker Scania

5:22 pm U.S. ET | Feb. 21, 2014
Volkswagen AG is bidding more than $9.2 billion for the rest of truckmaker Scania AB to deepen cooperation with its other commercial-vehicles units after being blocked previously in those efforts by the Swedish company's minority shareholders.... Read More »

 

Tesla's Musk confirms Apple talks, says deal 'unlikely'

2:10 pm U.S. ET | Feb. 20, 2014
Tesla Motors Inc has had "conversations" with Apple, CEO Elon Musk confirmed to Bloomberg TV today, responding to speculation that the iPhone and iPad maker had shown interest in the electric car company.... Read More »

 

China will ease limits on foreign stake in JVs

1:48 pm U.S. ET | Feb. 20, 2014
China's Ministry of Industry and Information Technology wants to loosen ownership restrictions on foreign automakers' joint ventures despite strong opposition from state-owned auto companies.... Read More »

 

Johnson Controls to sell headliner, sun visor business to private equity firm Atlas

Feb. 20, 2014 06:01 CET
Johnson Controls plans to sell its headliner and sun visor business to an affiliate of private equity firm Atlas Holdings. Johnson Controls expects to close the deal by April 30. Terms of the agreement were not disclosed.... Read More »

 

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