Mergers and Acquisitions

Lithia Q2 profits hit record highs

8:39 am U.S. ET | July 23, 2014
Lithia Motors today reported the highest adjusted quarterly net income in the company's history -- a 29 percent surge to $35 million.... Read More »

 

Marchionne says Fiat Chrysler tie-up with VW was never on agenda

July 23, 2014 12:27 CET
Fiat Chrysler CEO Sergio Marchionne quashed all speculation of a possible tie-up with Volkswagen, saying the idea had never been on the agenda.... Read More »

 

Metals and plastics company NN to buy supplier Autocam in $300 million deal

11:23 am U.S. ET | July 22, 2014
A Tennessee metals and plastics company said it has agreed to acquire auto parts supplier Autocam in a deal valued at $300 million.... Read More »

 

Group 1 acquires Munday dealerships in Houston

3:59 pm U.S. ET | July 21, 2014
Group 1 Automotive, the third-largest auto dealer group based in the United States, has acquired Houston dealerships Munday Chevrolet and Munday Mazda, the company said today.... Read More »

 

Russia's Severstal sells U.S. steel plants to AK Steel, Steel Dynamics

8:48 am U.S. ET | July 21, 2014
Russia's Severstal said it agreed to sell its two steel plants in the United States for $2.3 billion, withdrawing from the market at a time of rising tension between Russia and the West and turning its focus to its domestic business.... Read More »

 

ZF needs TRW's tech know-how, CFO says

8:54 am U.S. ET | July 19, 2014
ZF Friedrichshafen believes buying TRW Automotive would give it a better foothold in the market for self-driving and connected cars, its finance chief told a German paper.... Read More »

 

EDWARD NIEDERMEYER

Hungry VW wants to devour Fiat Chrysler

2:28 pm U.S. ET | July 18, 2014
What appears on the surface to be just another twist in the ego-driven soap opera between VW's visionary leader Ferdinand Piech and FCA's scrappy boss Sergio Marchionne may actually presage the next round of auto industry consolidation.... Read More »

 

Continental Structural Plastics to buy 5 plants from Magna

10:28 am U.S. ET | July 18, 2014
Continental Structural Plastics signed a definitive agreement to acquire five North American plants from Magna International.... Read More »

 

ZF can hike offer for TRW as high as $13 billion, report says

10:49 am U.S. ET | July 17, 2014
ZF Friedrichshafen, moving to acquire TRW Automotive, has been told by lenders that financing is available for a higher all-cash bid which could value the U.S. company at as much as $13 billion, people with knowledge of the matter said, Bloomberg reported.... Read More »

 

Fiat, VW deny report that they are in merger talks

5:49 am U.S. ET | July 17, 2014
Volkswagen AG, Fiat S.p.A. and Fiat's controlling shareholder all denied a German magazine report today that the German and Italian automakers have discussed a possible merger. Volkswagen has approached rival Fiat about a possible merger, Germany's Manager Magazin reported on its website earlier today, citing unnamed company sources.... Read More »

 

ZF bucks trend in bid for TRW

12:01 am U.S. ET | July 14, 2014
In an era in which many suppliers are shedding noncore business lines, Germany's ZF Friedrichshafen AG is looking to bulk up by bidding for TRW Automotive Holdings Corp.... Read More »

 

AUTOMOTIVE NEWS EUROPE E-MAGAZINE

Ex-Opel CEO Stracke eyes acquisitions to boost Magna Steyr's engineering unit

July 11, 2014 06:01 CET
Karl-Friedrich Stracke, Magna Steyr's head of vehicle technology and engineering, is betting on acquisitions in China. The supplier is watching the M&A market very closely, Stracke said in an interview.... Read More »

 

TRW attracts takeover offer from ZF Friedrichshafen, report says

10:56 am U.S. ET | July 10, 2014
TRW Automotive, the world's biggest car-safety equipment supplier, has received a preliminary takeover approach from Germany's ZF Friedrichshafen AG, people with knowledge of the matter told Bloomberg. If completed, it would be the largest auto supplier takeover in seven years.... Read More »

 

Agnellis may tighten grip on Fiat after Chrysler merger

July 8, 2014 11:43 CET
Fiat's founding Agnelli family may see its voting rights rise to 46 percent as part of a scheme to reward long-term investors after a merger with Chrysler and a listing in New York, a U.S. regulatory filing showed.... Read More »

 

Fiat calls Aug. 1 shareholder meeting to approve Chrysler merger

July 3, 2014 12:40 CET
Fiat has called a shareholder meeting on Aug. 1 to approve its merger with Chrysler, potentially clearing the way for the new company to be listed in New York as planned before the end of this year.... Read More »

 

Thierry Peugeot to leave PSA board after voicing dissent over capital tie-up with China's Dongfeng

July 3, 2014 18:53 CET
PSA/Peugeot-Citroen's deputy chairman, Thierry Peugeot, was forced out after voicing public dissent over the automaker's tie-up with Dongfeng that he had unsuccessfully opposed.... Read More »

 

VW denies rumors of planned takeover bid for U.S. truckmaker Paccar

July 3, 2014 11:33 CET
Volkswagen says it is not interested in bidding for U.S. truckmaker Paccar, rejecting comments made by Daimler's commercial vehicle chief Wolfgang Bernhard.... Read More »

 

Twin Cities Automotive renamed Carousel Motor Group

3:54 pm U.S. ET | July 2, 2014
Twin Cities Automotive, a dealership group owned by Pohlad Companies, has changed its name to Carousel Motor Group.... Read More »

 

THE GM RECALL

GM judge says concealing switch fault would have been fraud

11:56 am U.S. ET | July 2, 2014
General Motors customers who sued the automaker over fallen car prices might have a stronger case if they could prove the company defrauded the court when testifying during its 2009 bankruptcy, a judge said.... Read More »

 

Fiat Chrysler shareholders to vote on merger in early August

June 30, 2014 17:01 CET
Fiat Chrysler shareholders will meet early August to vote on the merger between the Italian carmaker and its U.S. unit, CEO Sergio Marchionne said on the sidelines of an event in Turin.... Read More »

 

Cooper-Standard to sell thermal and emissions business to Visteon unit for $46 million

11:23 am U.S. ET | June 30, 2014
Cooper-Standard Automotive has agreed to sell its thermal and emissions product line to Halla Visteon Climate Control in a transaction valued at $46 million.... Read More »

 

Fiat Chrysler, Marchionne prepare to sell Wall Street on 'Cinderella' story

3:34 pm U.S. ET | June 27, 2014
Sergio Marchionne needs a New York stock market listing to bring in the investors required to fund future growth at Fiat Chrysler, but a lukewarm response to the CEO's most recent Wall Street launch suggests he has a bumpy journey ahead.... Read More »

 

Renault-Nissan completes deal to take control of AvtoVAZ

June 27, 2014 12:10 CET
Renault-Nissan has completed a deal to take control of Russia's largest automaker, AvtoVAZ, Renault said today. The alliance now has a 67.1 percent stake in the holding company that controls AvtoVAZ.... Read More »

 

Group 1 sues Florida dealership over buy-sell dispute

3:54 pm U.S. ET | June 26, 2014
Group 1 Automotive thought it had a done deal to buy an Audi store in North Miami Beach from Prestige Motor Car Imports for $72 million. But Prestige said no. Now Group 1 is suing the luxury-import retailer to complete the transaction.... Read More »

 

Michigan's Suburban Collection acquires 2 Cadillac dealerships in state

3:11 pm U.S. ET | June 24, 2014
The Suburban Collection has acquired two Michigan dealerships -- Don Massey Cadillac in Plymouth and Capitol Cadillac in Lansing -- from Charlotte, N.C.-based Sonic Automotive Inc. for an undisclosed amount.... Read More »

 

Special Report
Fewer bosses, Disney savvy, $2 idea lift stores

Fewer bosses, Disney savvy, $2 idea lift stores

A Chrysler Group dealership chain is stripping away layers of management to sell cars faster. A Chevrolet-Cadillac store is enchanting customers through Disney training. Mon., July 21
» Watch the Video
     
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