Mergers - Acquisitions - Takeovers

MIKE WOOD: How hard are you willing to work?

12:01 am U.S. ET | Oct. 20, 2014
Long hours and hard work in the past few years turned Mike Wood from a dealership manager into a dealer with four stores. The market has been loaded with acquisition opportunities, he says, provided the buyer is willing to put in the sweat and hustle....
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Lithia predicts Q3 net income gain despite lower used-car profits

2:19 pm U.S. ET | Oct. 13, 2014
Lithia Motors expects to report a gain in third-quarter unadjusted net income, boosted by improved new-vehicle sales, service and parts business and F&I revenue, it said in a statement today. But Lithia said its third-quarter operating income was mitigated in part due to narrowing used-car profit margins because of a dip in used-car values....
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How dealers can block automakers' right of first refusal

3:32 pm U.S. ET | Oct. 13, 2014
With automakers increasing their use of right of first refusal in buy-sell deals, some dealers want to structure transactions to effectively block its use. But they must be watchful about how they do it, dealership buy-sell advisers and dealer lawyers say....
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Exit strategy on Buffett deal? Not so fast, says Larry Van Tuyl

2:24 pm U.S. ET | Oct. 13, 2014
Selling to a highly respected outside investor such as Warren Buffett may have been the ideal exit strategy for Van Tuyl Group -- and one of the few exit paths available to such a large automotive retailer these days, said some dealership buy-sell advisers. But Larry Van Tuyl doesn’t see it that way....
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Agnelli family tightens grip on Fiat Chrysler ahead of Wall Street debut

Oct. 10, 2014 11:13 CET
The Agnelli family has tightened its grip on Fiat by securing higher voting rights after the carmaker's merger into Fiat Chrysler Automobiles. The move by the Agnellis' holding company, Exor, could make Fiat Chrysler less of a takeover target....
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Marchionne rebuilds Fiat-Chrysler at 200 mph to woo Wall Street

4:30 am U.S. ET | Oct. 9, 2014
As CEO Sergio Marchionne prepares to help ring the closing bell at the New York Stock Exchange on Monday to mark the debut of Fiat Chrysler shares, he is racing to create a lineup of cars that will lure buyers into showrooms worldwide. The transatlantic marriage of two struggling regional automakers will be the capstone of his career. So how quickly Marchionne gets the new company on its feet during these last laps may well determine his legacy....
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Fiat Chrysler could sell $830 million in shares after U.S. listing, report says

7:33 am U.S. ET | Oct. 9, 2014
Fiat Chrysler Automobiles could sell up to $830 million worth of shares to boost its finances and increase trading in the stock after it begins trading on Wall Street next week, Reuters reported. CEO Sergio Marchionne has said he could "get the machine rolling" by selling to U.S. investors the shares Fiat owns in itself, or so-called treasury stock....
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Marchionne foresees merger creating a new No. 1 automaker

7:07 am U.S. ET | Oct. 8, 2014
Fiat Chrysler Automobiles CEO Sergio Marchionne sees potential to form a new No. 1 automaker as companies grapple with low returns on the growing amount of money needed to develop a new car....
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Marchionne foresees mergers creating new top carmaker

Oct. 8, 2014 12:02 CET
Fiat Chrysler CEO Sergio Marchionne sees potential to form a new No. 1 in the auto industry as carmakers grapple with low returns on the increasing amount of money needed to develop new cars....
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Fiat says merger with Chrysler effective Oct. 12

Oct. 7, 2014 10:15 CET
Fiat said its merger with Chrysler into holding group Fiat Chrysler Automobiles (FCA) would be effective Oct. 12 after all conditions for the tie-up were met....
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Shiloh acquires stamping firm Radar Industries for $58 million

7:01 am U.S. ET | Oct. 7, 2014
Ohio's Shiloh Industries has acquired metal stamping supplier Radar Industries for nearly $58 million....
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Mahindra will buy 51% stake in PSA's money-losing scooter unit

Oct. 7, 2014 10:38 CET
Mahindra & Mahindra will buy a majority stake in PSA/Peugeot-Citroen's money-losing scooter unit, giving the Indian tractor and SUV maker access to European technology....
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BUFFETT | VAN TUYL DEAL

For Buffett, long drive to next Cadillac

12:01 am U.S. ET | Oct. 6, 2014
Warren Buffet's Berkshire Hathaway Inc.'s purchase of the Van Tuyl Group means he probably won't be going back to Huber Cadillac, the Omaha, Neb., dealership where he bought a new XTS in May....
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BUFFETT-VAN TUYL DEAL

Reactions to Buffett-Van Tuyl deal

12:01 am U.S. ET | Oct. 6, 2014
Some reaction of the Warren Buffett, Van Tuyl deal from dealership groups and buy-sell groups....
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BUFFETT | VAN TUYL DEAL

Buffett, already an investor, doubles down on autos

12:01 am U.S. ET | Oct. 6, 2014
Warren Buffett's purchase of the Van Tuyl Group may be his first foray into auto retailing, but he already has bet heavily on the turnaround of General Motors....
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BUFFETT | VAN TUYL DEAL

How Van Tuyl wooed Buffett

12:01 am U.S. ET | Oct. 6, 2014
The path to Warren Buffett's acquisition of dealership giant Van Tuyl Group began more than 10 years ago when Larry Van Tuyl became one of Berkshire Hathaway's shareholders....
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BUFFETT | VAN TUYL DEAL

Van Tuyl grew from 1 store to a colossus

12:01 am U.S. ET | Oct. 6, 2014
The Van Tuyl Group of Phoenix, the nation's fifth-largest dealership group and the largest privately held one, had humble beginnings. Founder Cecil Van Tuyl got his start in the auto industry in the 1940s selling used cars in Kansas City, Mo....
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BUFFETT | VAN TUYL DEAL

Buffett opens door for more outsiders

12:01 am U.S. ET | Oct. 6, 2014
Billionaire Warren Buffett is paving the way for more outside investors to buy large dealership groups, experts said. Buy-sell advisers say they have seen growing interest from private-equity and outside investors in buying car dealerships, but in recent weeks, the pace of that interest is quickening....
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EDITORIAL

Warren Buffett, the Oracle of Automotive

12:01 am U.S. ET | Oct. 6, 2014
Warren Buffett's investment is an endorsement of auto retailing and its prospects. And his statement that he's already looking to buy more dealerships will pour fuel on an already blazing buy-sell market....
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EDWARD NIEDERMEYER

Dissecting what it means when Buffett grabs the wheel

11:27 am U.S. ET | Oct. 4, 2014
Wherever Warren Buffett goes, investors follow. But for anyone who thinks now is the best time to buy into car dealerships, a quick reality check may be in order....
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BUFFETT | VAN TUYL DEAL

Berkshire Hathaway Auto CEO ready to accelerate growth

12:01 am U.S. ET | Oct. 4, 2014
As CEO of the future Berkshire Hathaway Automotive, Jeff Rachor is positioned to push the accelerator of growth. It's a role he knows well. Rachor has helped the Van Tuyl Group add a handful of stores annually since becoming COO in 2010....
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Van Tuyl founder was 'excited' about Buffett talks

12:01 am U.S. ET | Oct. 4, 2014
Larry Van Tuyl is looking to his father for inspiration on the next phase of his working life. Van Tuyl will become chairman of Berkshire Hathaway Automotive after the sale of his dealership group to Warren Buffett's investment company is complete....
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Fiat retools Jeep as 500X SUV to show Chrysler merger is street ready

2:15 pm U.S. ET | Oct. 3, 2014
With the new pint-sized Fiat 500X, CEO Sergio Marchionne wants to show his vision for Fiat Chrysler Automobiles NV is ready for the street. The latest member of the 500 family, which follows the 500L wagon, is especially important to halt losses and sliding market share at Fiat's operations in Europe....
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Buffett to buy Van Tuyl Group, create Berkshire Hathaway Automotive

8:40 am U.S. ET | Oct. 2, 2014
Warren Buffett's Berkshire Hathaway agreed to buy Van Tuyl Group, the largest privately owned auto dealership group in the United States. The business, with 75 dealerships at the end of last year, will be renamed Berkshire Hathaway Automotive....
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Lithia completes purchase of DCH Auto Group

5:48 pm U.S. ET | Oct. 1, 2014
Lithia Motors said it completed the purchase of DCH Auto Group, one of the largest buy-sell deals between dealership groups in recent history....
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