Mergers - Acquisitions - Takeovers

TRW shareholders approve $13.5 billion takeover by ZF

7:21 am U.S. ET | Nov. 20, 2014
TRW Automotive shareholders today approved a $13.5 billion takeover offer by Germany's ZF Friedrichshafen, the companies said, paving the way for a new global automotive supply powerhouse to rival Robert Bosch....
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Semiconductor demand spurs merger activity

12:01 am U.S. ET | Nov. 17, 2014
Spurred by fast-growing markets for infotainment and collision avoidance, semiconductor suppliers are bulking up with a wave of mergers....
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Porsche SE faces more legal risks from botched VW takeover

Nov. 15, 2014 09:54 CET
Porsche SE has warned shareholders it could be forced to return "economic benefits" from a failed takeover of Volkswagen if former board members are convicted....
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Cox Automotive to buy Xtime for $325M, enters service software business

3:30 pm U.S. ET | Nov. 11, 2014
Cox Automotive has agreed to pay $325 million in cash to buy Xtime, a leading provider of service scheduling and workflow software to dealerships, the companies announced today. The deal is expected to be completed in the next few days, said Keith Jezek, software division president at Cox Automotive....
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Benefits of Lithia-DCH deal go beyond numbers, CEO says

12:01 am U.S. ET | Nov. 10, 2014
Before Warren Buffett bought Van Tuyl Group in October, the buy/sell sensation of the year was Lithia Motors' surprise acquisition of DCH in June. Lithia paid $340 million in cash and another $22.5 million in stock for the 27-store group. But did Lithia over- or underpay for DCH?...
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An FCA-VW merger? Brilliant, Krafcik says

12:01 am U.S. ET | Nov. 10, 2014
In July, Fiat Chrysler Automobiles and Volkswagen denied they were in merger talks after a German magazine reported discussions were underway. Still, John Krafcik, former CEO of Hyundai Motor America, told a media gathering in Detroit last week that he has studied the idea. His conclusion: "This is an absolutely brilliant combination."...
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Visteon posts Q3 loss on one-time items, but revenue rises 33%

10:24 am U.S. ET | Nov. 6, 2014
Visteon said today it posted a $21 million net loss for the third quarter because of charges from discontinued operations, but revenue surged 33 percent, helped by its acquisition of Johnson Controls' electronics business....
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Continental unable to complete Veyance takeover, report says

Nov. 6, 2014 14:12 CET
Continental is unable to complete its acquisition of U.S. rubber firm Veyance Technologies and may need to sell one of the target company's divisions to win U.S. regulatory approval, a German magazine reported....
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Dealertrack raises financial targets after Q3 revenue surges

8:11 pm U.S. ET | Nov. 5, 2014
Dealertrack Technologies, which supplies a wide variety of auto dealership retail software and services, said its third-quarter business surged and it bumped up its revenue and profitability forecast for the year....
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Shiloh advances product strategy with U.S. tech center, acquisitions

1:59 pm U.S. ET | Nov. 5, 2014
Shiloh Industries is planning to open a new technical center in Michigan as part of the company's efforts to reinvent itself and grow with its automaker customers....
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VW joining with Fiat Chrysler would be 'brilliant' idea, Krafcik speculates

4:18 pm U.S. ET | Nov. 4, 2014
A merger of Fiat Chrysler Automobiles and Volkswagen would create a well-balanced global automaker that would be highly profitable, John Krafcik, president of auto-buying website TrueCar, said today....
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ZF and TRW usher in new era of deals

12:01 am U.S. ET | Nov. 3, 2014
In the wake of ZF's $13.5 billion acquisition of TRW Automotive, other merger and acquisition deals are bubbling up. Delphi Automotive reportedly wants to sell its thermal products division, and key semiconductor suppliers have been buying smaller competitors. Automotive suppliers are expected to close 211 deals this year, up 13 percent over 2013....
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Cooper-Standard profits rise on higher sales, M&A moves

12:40 pm U.S. ET | Oct. 31, 2014
Cooper-Standard Holdings reported higher earnings in the third quarter from increased North American and Asian sales as well as merger and acquisition activity....
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Lithia will continue rapid acquisition pace after DCH

9:08 am U.S. ET | Oct. 30, 2014
Lithia Motors will continue its rapid pace of acquisitions over the next year despite just closing a huge deal to buy DCH Auto Group, executives said today. Their remarks came as Lithia reported its third-quarter net income increased 11 percent to $34.5 million....
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Fiat Chrysler Q3 profit rises on Jeep demand

9:16 am U.S. ET | Oct. 29, 2014
Fiat Chrysler Automobiles reported a 7.4 percent increase in profit in the third quarter, bolstered by sales growth in the United States....
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Edmunds.com buys startup, plans to offer texting services to dealerships

12:09 pm U.S. ET | Oct. 29, 2014
Edmunds has purchased a startup texting technology company that it helped nurture. The acquisition will enable Edmunds dealership subscribers to offer texting services to mobile customers....
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TRW's revenue slips 1%, net income falls 4% in Q3

11:02 am U.S. ET | Oct. 28, 2014
Automotive safety technology supplier TRW Automotive Holdings, preparing for its $13.5 billion acquisition by ZF Friedrichshafen, today said its third-quarter revenue dropped 1 percent to $4.16 billion from a year earlier, while net income fell 4 percent....
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Group 1 slows acquisition pace

1:03 pm U.S. ET | Oct. 23, 2014
Put off by high prices for dealerships and unacceptable returns, Group 1 Automotive will slow its acquisition pace in the near term, CEO Earl Hesterberg said today....
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Delphi explores sale of thermal unit for as much as $1 billion, report says

1:25 pm U.S. ET | Oct. 22, 2014
Delphi Automotive, the former parts unit of General Motors, is exploring a sale of a business that makes heating and cooling systems for cars, and will seek as much as $1 billion for the unit, people with knowledge of the matter told Bloomberg....
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Gentex reports 30% surge in Q3 net income

1:46 pm U.S. ET | Oct. 22, 2014
Gentex, which makes a variety of automotive mirrors, cameras and electronic components, said today that its third quarter net income surged 30 percent from a year earlier, with total revenue jumping 22 percent....
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JCI-Yanfeng could be first domino

12:01 am U.S. ET | Oct. 20, 2014
The major joint venture between Johnson Controls Inc. and China's Yanfeng Automotive Trim Systems Co. has created momentum for further consolidation of the auto interiors business, says Beda Bolzenius, president of Johnson Controls' seating and interiors business....
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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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