Mergers - Acquisitions - Takeovers

Bankrupt Toyota store in Florida sells for $18.7 million

10:33 pm U.S. ET | March 22, 2013
A federal bankruptcy court has approved the sale of a bankrupt Toyota dealership in St. Augustine, Fla., for $18.7 million. The buyer, Michael Beaver, owner of Beaver Toyota in Santa Fe, N.M., will close on the sale in April, said Joe Luzinski, senior vice president of Development Specialists Inc. in Miami.... Read More »

 

China's Geely won't make final bid for Fisker stake, report says

8:33 am U.S. ET | March 18, 2013
China's Zhejiang Geely Holding Group will not bid for a majority stake in Fisker Automotive mainly due to the troubled U.S. electric car maker's obligations to the U.S. government, according to two sources familiar with the matter.... Read More »

 

DAVE GUILFORD

While U.S. shrugs, China sees gold in green tech

1:32 pm U.S. ET | March 14, 2013
I'm on the outside looking in, of course, but it's not real hard to figure out what's probably happening at Fisker Automotive. Co-founder Henrik Fisker quit his namesake company this week, citing disagreements with management.... Read More »

 

Nexteer planning $500 million stock offering in Hong Kong, report says

4:12 pm U.S. ET | March 11, 2013
Nexteer Automotive, the one-time GM and Delphi steering operation controlled by China’s biggest aerospace company, may seek as much as $500 million in an initial public offering in Hong Kong, two people with knowledge of the matter told Bloomberg.... Read More »

 

Polk hires investment banker, may consider sale

2:05 pm U.S. ET | March 7, 2013
R.L. Polk, one of the auto industry's most widely quoted sources for data, said today it has retained an investment banker to "explore strategic growth opportunities."... Read More »

 

Johnson Controls explores sale of auto-electronics division

2:01 pm U.S. ET | March 6, 2013
Johnson Controls said it has hired JP Morgan to explore the potential sale of its automotive electronics unit and denied having plans to sell its interiors business.... Read More »

 

Marchionne says Fiat is in talks with banks about Chrysler merger

March 6, 2013 08:19 CET
Fiat- Chrysler CEO Sergio Marchionne said he is in talks with banks about financing a merger of the two automakers. The deal would involve purchasing the 41.5 percent of Chrysler that Fiat doesn't own.... Read More »

 

Group 1 acquires 4 Ford dealerships in U.K.

5:30 pm U.S. ET | Feb. 27, 2013
Group 1 Automotive acquired four Ford dealerships in the United Kingdom that the Houston-based dealership group expects to generate approximately $177 million in annual revenues. The dealerships are being acquired from Inchcape Retail Ltd., one of the largest new-vehicle dealership groups in the United Kingdom.... Read More »

 

Group 1 of U.S. buys four Ford dealerships in England

Feb. 27, 2013 23:30 CET
U.S. auto retailer Group 1 Automotive Inc. acquired four Ford dealerships in England, adding to its UK holdings. The dealerships are being acquired from Inchcape Retail Ltd.... Read More »

 

Dealer Ernie Boch ponders bid for Boston Globe

4:16 pm U.S. ET | Feb. 25, 2013
Boston car dealer Ernie Boch Jr. is considering buying The Boston Globe. Boch, who called the Globe an “institution,” said the process is still in the preliminary stages.... Read More »

 

Fisker technology shouldn’t go to the Chinese, U.S. senator says

10:02 am U.S. ET | Feb. 20, 2013
The technology of Fisker Automotive, the plug-in hybrid carmaker that owes American taxpayers about $200 million, shouldn’t be sold to Chinese companies, Senator Charles Grassley said.... Read More »

 

Fisker weighs offers from possible suitors, including Dongfeng, report says

11:05 am U.S. ET | Feb. 15, 2013
Fisker Automotive, the plug-in hybrid carmaker seeking a buyer, is weighing several bids, including a $350 million offer from Dongfeng Motor that would give the Chinese carmaker majority control, people with knowledge of the matter told Bloomberg.... Read More »

 

Warren Buffett beefs up GM stake to 25 million shares

10:21 am U.S. ET | Feb. 15, 2013
Warren Buffett's Berkshire Hathaway has acquired 10 million more shares of General Motors, lifting its holdings in the company to 25 million shares.... Read More »

 

BorgWarner: M&A 'extremely active,' but closing deals tough

11:01 am U.S. ET | Feb. 14, 2013
Merger and acquisitions activity remains high in the auto industry, but it has become more difficult to finalize deals in the tougher economic environment, the chief financial officer of auto parts supplier BorgWarner said on Thursday.... Read More »

 

Fiat prepping for Chrysler purchase with banking talks, report says

Feb. 12, 2013 16:10 CET
Fiat is discussing financing options with banks to strengthen its balance sheet in preparation to buy the Chrysler stake it doesn't own, three people familiar with the matter told Bloomberg.... Read More »

 

Fiat prepping for Chrysler purchase with banking talks, report says

10:10 am U.S. ET | Feb. 12, 2013
Fiat is discussing financing options with banks to strengthen its balance sheet in preparation to buy the Chrysler stake it doesn't own, three people familiar with the matter told Bloomberg.... Read More »

 

AutoTrader acquires incentive-tracker Automotive Information Systems

2:40 pm U.S. ET | Feb. 11, 2013
AutoTrader Group's stable of online classified properties and software companies just got bigger. Dale Pollak, founder of vAuto, a unit of AutoTrader, said AutoTrader has acquired Automotive Information Systems, an Ann Arbor, Mich., tracker of new-vehicle incentives, for an undisclosed price.... Read More »

 

Piech says VW may add a 13th brand

9:19 am U.S. ET | Feb. 6, 2013
Volkswagen Chairman Ferdinand Piech indicated that the automaker plans to add at least one brand to the current lineup as part of a strategy to claim the industry's top spot by 2018.... Read More »

 

VW's Piech says automaker may add a 13th brand

Feb. 6, 2013 15:19 CET
Volkswagen Chairman Ferdinand Piech indicated that the automaker plans to add at least one brand to the current lineup as part of a strategy to claim the industry's top spot by 2018.... Read More »

 

GM planning deals in China to reach 5 million sales goal, report says

4:14 pm U.S. ET | Feb. 5, 2013
The Chinese auto industry is overdue for consolidation and General Motors, with local partner SAIC, is interested in acquiring ailing automakers, people familiar with the companies’ thinking told Bloomberg.... Read More »

 

M&A outlook for global auto industry weakens, survey says

10:31 am U.S. ET | Feb. 3, 2013
Due to a lack of confidence in the global business environment, the percentage of automotive companies planning to pursue acquisitions within a year fell to 19 percent, according to an Ernst & Young survey.... Read More »

 

Geely rescues London black cab maker

Feb. 1, 2013 10:34 CET
Geely agreed to purchase Manganese Bronze Holdings, rescuing the maker of London's iconic black taxis.... Read More »

 

Porsche, hedge funds agree VW case can be heard in Germany

Jan. 31, 2013 20:46 CET
Porsche SE and several hedge funds seeking damages from the company agreed that New York was the wrong place to pursue compensation, and left the door open to bringing a case in German courts.... Read More »

 

Chinese firm wins A123 despite U.S. tech transfer fears

12:03 pm U.S. ET | Jan. 29, 2013
China's largest auto parts maker won federal government approval to buy A123 Systems, a bankrupt maker of electric car batteries that was funded with government money, the Chinese company said today.... Read More »

 

Group 1 deal for Brazil's UAB Motors opens new frontier for growth

8:38 pm U.S. ET | Jan. 24, 2013
Group 1 Automotive's plan to acquire one of Brazil's largest dealership groups signals another frontier for the U.S. auto industry's expansion-minded publicly traded dealership groups. Until now, Group 1 and Penske Automotive Group have concentrated on Europe when it came to overseas acquisitions while joining their four big peers in selectively adding U.S. stores.... Read More »