Mergers - Acquisitions - Takeovers

Fiat rating cut by Moody's on earnings worry, outlook

Feb. 11, 2014 22:29 CET
Moody's cut Fiat's rating, citing weak 2013 results and challenges it sees for the Italian carmaker in achieving its guidance this year, given eroding profitability in its Latin American market.... Read More »

 

Fiat rating cut by Moody's on earnings worry, outlook

4:29 pm U.S. ET | Feb. 11, 2014
Moody's cut Fiat's rating to 'B1' from 'Ba3' on Tuesday, citing weak 2013 results and challenges it sees for the Italian carmaker in achieving its guidance this year, given eroding profitability in its Latin American market.... Read More »

 

Continental seeks to expand beyond auto business with U.S. acquisition

Feb. 11, 2014 06:01 CET
Continental agreed to buy Veyance Technologies for about $1.9 billion to expand beyond the auto business. Continental expects the purchase to boost profit of its ContiTech unit. U.S.-based Veyance makes industrial hoses and conveyor belts.... Read More »

 

Fisker's remains spark Chinese battle for patent prize

12:34 am U.S. ET | Feb. 6, 2014
Two Chinese-backed companies are locked in a bidding war, culminating next week, to take over bankrupt Fisker Automotive Holdings.... Read More »

 

Serra Automotive acquires GM dealership in suburban Nashville

4:07 pm U.S. ET | Feb. 4, 2014
Michigan's Serra Automotive said today it has acquired the largest-volume General Motors dealership in Tennessee, Tom Bannen Chevrolet-Buick-GMC. Terms of the deal were not released.... Read More »

 

KEITH CRAIN

This is not a simple business anymore

12:01 am U.S. ET | Feb. 3, 2014
It hasn't been easy over the past decade or so to figure out what's a domestic vehicle and what's an import. And it's not getting any easier as more companies become multinationals. It probably doesn't matter anymore.... Read More »

 

NICK BUNKLEY

Is Chrysler American, Italian, Dutch or … ?

12:01 am U.S. ET | Jan. 30, 2014
Yesterday was certainly a big day for the venerable Dutch auto industry. Chrysler, the once undeniably American company that suffered a marriage to a German, then a taxpayer-supported shotgun wedding with an Italian, is finally settling down in the Netherlands.... Read More »

 

NICK BUNKLEY

Is Chrysler American, Italian, Dutch or … ?

3:16 pm U.S. ET | Jan. 29, 2014
There’s an occasional saying in western Michigan, where I grew up: “If you’re not Dutch, with a tax domicile in Great Britain, you’re not much.” It’s something like that, anyway. Regardless, today was a big day for the venerable Dutch auto industry.... Read More »

 

Merged Fiat Chrysler group to list in New York, Milan

Jan. 29, 2014 17:05 CET
Fiat detailed plans to merge with Chrysler to create the world's seventh-largest automaker.... Read More »

 

Fiat-Chrysler creates Dutch holding, sets tax domicile in UK

Jan. 29, 2014 14:12 CET
Fiat will register the holding of its newly created Fiat Chrysler Automobiles group in the Netherlands and set its tax domicile in Britain, cementing a politically sensitive shift away from its home base in Italy.... Read More »

 

Fiat says fourth-quarter profit rose 5%; lowers 2014 forecast

Jan. 29, 2014 11:45 CET
Fiat reported fourth-quarter earnings below analysts' expectations and cut its 2014 guidance more than expected, as a profit drop in Latin America overwhelmed gains by Chrysler.... Read More »

 

Buffett's Berkshire acquires MyAssist in-car concierge service used by Mercedes, Ford

4:49 pm U.S. ET | Jan. 27, 2014
Warren Buffett's Berkshire Hathaway is betting on a service that helps companies including Ford and Mercedes-Benz provide live, in-car support to drivers.... Read More »

 

RICHARD JOHNSON

Why George Chaconas is such a busy man

4:24 pm U.S. ET | Jan. 25, 2014
Sit with dealmaker George Chaconas of Performance Brokerage Services at the Starbucks outside the convention hall, and you discover a busy guy.... Read More »

 

DOE chief: Fisker's Chinese buyer must keep work in U.S.

12:43 pm U.S. ET | Jan. 22, 2014
The winner between two Chinese-backed bidders for assets of bankrupt electric-car maker Fisker Automotive will have to keep manufacturing and research in the United States, Energy Secretary Ernest Moniz said.... Read More »

 

Fiat-Chrysler plans primary New York listing with UK base, report says

Jan. 22, 2014 20:34 CET
Fiat CEO Sergio Marchionne plans to propose the New York Stock Exchange as the primary market for shares of the company created from a merger with Chrysler, sources said. Marchionne also aims to have a fiscal domicile in the UK for tax purposes.... Read More »

 

Fiat-Chrysler plans primary NYSE listing, report says

2:34 pm U.S. ET | Jan. 22, 2014
Fiat CEO Sergio Marchionne plans to propose to the company's board that the New York Stock Exchange be the primary market for shares of the company created from a merger with Chrysler, people familiar with the matter said. Marchionne also aims to have a fiscal domicile in the U.K. for tax purposes, while the headquarters could be located elsewhere.... Read More »

 

Group 1 buys two stores in San Diego market

11:51 am U.S. ET | Jan. 22, 2014
Group 1 Automotive has acquired two dealerships from the Homer Heller Automotive Group in Escondido, Calif. The deal further expands Group 1's footprint in the San Diego market.... Read More »

 

Cooper Tire sued by investors after failed sale to Apollo

9:30 am U.S. ET | Jan. 22, 2014
Cooper Tire & Rubber was sued by investors who say they lost money when the shares declined during a failed sale to India's Apollo Tyres.... Read More »

 

Federal-Mogul to acquire chassis components business

10:38 am U.S. ET | Jan. 22, 2014
Diversified auto parts supplier Federal-Mogul said it agreed to acquire the chassis components business of Affinia Group. Terms of the transaction between the two Michigan-based companies were not disclosed and the deal is subject to regulatory approvals, Federal-Mogul said in a statement today.... Read More »

 

Fiat completes Chrysler acquisition in $4.35 billion deal

Jan. 21, 2014 16:57 CET
Fiat said it completed the acquisition of shares in Chrysler Group it did not previously own, making the U.S. unit a wholly owned subsidiary of the Italian carmaker.... Read More »

 

Fiat completes Chrysler acquisition in $4.35 billion deal

10:43 am U.S. ET | Jan. 21, 2014
Fiat said it completed the acquisition of shares in Chrysler Group it did not previously own in a deal valued at $4.35 billion, making the United States unit a wholly-owned subsidiary of the Italian carmaker.... Read More »

 

Visteon to buy electronics unit of Johnson Controls for $265M

10:45 am U.S. ET | Jan. 14, 2014
Visteon has agreed to purchase the automotive electronics business of Johnson Controls for $265 million in cash. The acquisition is expected to close in the second quarter of 2014.... Read More »

 

Autobytel acquires lead wholesaler AutoUSA from AutoNation

12:01 am U.S. ET | Jan. 14, 2014
Autobytel, one of the largest providers of lead prospects to auto dealers, has purchased AutoUSA from AutoNation for $10 million in cash, a $1 million convertible note and other consideration.... Read More »

 

Fiat may issue bond to boost liquidity after Chrysler merger, Marchionne tells paper

Jan. 10, 2014 09:44 CET
Fiat could launch a convertible bond to increase its liquidity after its merger with Chrysler, CEO Sergio Marchionne said. Fiat will also focus its European strategy on revamping Alfa Romeo and will keep production of the brand in Italy.... Read More »

 

Federal-Mogul to acquire Honeywell's brake friction business for $155 million

3:30 pm U.S. ET | Jan. 8, 2014
Diversified auto supplier Federal-Mogul has agreed to acquire Honeywell's automotive and industrial brake friction business for about $155 million.... Read More »

 

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