Mergers - Acquisitions - Takeovers

Magna to sell interiors unit to Grupo Antolin for $525 million

9:17 am U.S. ET | April 16, 2015

Canadian auto supplier Magna has agreed to sell its interiors operations to Grupo Antolin, a Spanish supplier with global operations, in a deal valued at about $525 million, Magna said today in a statement....
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Chinese conglomerate completes acquisition of Prestolite Electric

1:11 pm U.S. ET | April 16, 2015

Chinese conglomerate Zhongshan Broad-Ocean Motor has completed its acquisition of Michigan-based supplier Prestolite Electric LLC....
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Grupo Antolin to buy Magna unit for $525 million

April 16, 2015 15:17 CET

Spain's Grupo Antolin has reached an agreement to purchase Magna International's interiors unit for about $525 million, creating what Antolin estimates will be the world's third-largest player in the consolidating sector....
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Mahindra nears deal to buy Pininfarina, sources say

April 16, 2015 14:10 CET

Mahindra & Mahindra, India's largest maker of SUVs, is in the final stages of negotiations to buy Italian design and engineering firm Pininfarina, according to people familiar with the matter, who said a deal could be reached as early as next week....
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DAVE GUILFORD

BLOG: Why we won't 'put' credence in GM-FCA merger talk

10:26 am U.S. ET | April 15, 2015

General Motors is unlikely to entertain a merger with Fiat Chrysler after the sour end to the GM-Fiat Alliance in 2005. That's when Sergio Marchionne forced GM to pay $2 billion to avoid buying Fiat Auto....
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Marchionne will show data supporting industry need for consolidation

11:51 am U.S. ET | April 15, 2015

Fiat Chrysler Automobiles CEO Sergio Marchionne says he will produce data to back up his ongoing calls for consolidation in the auto industry....
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ThyssenKrupp plans to sell axle systems unit, report says

9:40 am U.S. ET | April 14, 2015

German steelmaker ThyssenKrupp is selling its automotive contract assembly unit, which makes axle systems for car makers, as it seeks to streamline its activities and beef up profitability, two sources familiar with the deal told Reuters....
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NEWS ANALYSIS

Marchionne wants to complete mega deal before stepping down, report says

11:32 am U.S. ET | April 13, 2015

Fiat Chrysler CEO Sergio Marchionne is hoping for a big deal, possibly in the United States, to plug the carmaker's weaknesses and cement his legacy before stepping down in early 2019, sources familiar with the situation told Reuters....
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Fiat Chrysler's Elkann sees more consolidation in auto industry

2:13 pm U.S. ET | April 13, 2015

Fiat Chrysler Automobiles Chairman John Elkann sees the need for more combinations in the auto industry and expects consolidation to continue. Elkann said industry mergers should take into account the importance of identity and culture, "avoiding the all too typical divisive trappings of a takeover."...
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Too early to talk tie-up, Tavares says

12:01 am U.S. ET | April 6, 2015

Equity research firm MainFirst has speculated how a potential merger between Fiat Chrysler Automobiles and PSA Peugeot Citroen could work out. But PSA will be ready for a possible merger only after it has completed its recovery plan, CEO Carlos Tavares told an Italian newspaper....
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Berkshire Hathaway Automotive targets growth, possibly abroad

3:00 pm U.S. ET | March 31, 2015

Berkshire Hathaway Automotive already is on the prowl to acquire more dealerships. And, top executives hinted today, that might include looking outside the US. Berkshire Hathaway closed on its purchase of Van Tuyl Group on March 9...
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Auto-parts exec Tilton, 'turnaround queen,' faces fraud charges

9:44 am U.S. ET | March 31, 2015

Federal regulators accused financier and auto-parts executive Lynn Tilton and her advisory business of defrauding investors by hiding poor performance of assets underlying three collateralized loan obligation funds....
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PSA CEO Tavares dampens talk of Fiat Chrysler merger

March 31, 2015 11:48 CET

PSA/Peugeot-Citroen will only be ready for a possible merger after it has completed its recovery plan, CEO Carlos Tavares told a newspaper, dampening speculation of a potential tie-up with Fiat Chrysler....
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Magna negotiating to sell interiors business to Grupo Antolin, report says

12:25 pm U.S. ET | March 30, 2015

Canada's Magna International is in talks to sell its car-interior business to Spain's Grupo Antolin, people familiar with the matter told Bloomberg....
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ChemChina hopes to re-list Pirelli in Italy; says counterbid will hurt investors

March 30, 2015 09:14 CET

The chairman of China National Chemical Corp. (ChemChina), Ren Jianxin, said he hopes to re-list Italy's Pirelli on the Italian stock exchange. A counterbid for Pirelli would hurt the Italian firm's investors and long-term strategy, he warned....
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Pirelli CEO sees strong future with ChemChina, no talks on counterbid

March 27, 2015 12:07 CET

Pirelli has a strong future with China National Chemical Corp. and is not talking to others about a possible counterbid, CEO Marco Tronchetti Provera said. ChemChina agreed to become the majority owner of the world's fifth-largest tire maker in an $8 billion deal. The market speculated that Bridgestone could be putting together a counterbid....
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Pininfarina investor confirms India's Mahindra is interested in buying Italian design company

March 26, 2015 11:39 CET

Pininfarina's controlling shareholder, Pincar, confirmed that India's Mahindra & Mahindra has expressed interest in buying the Italian car designer. Mahindra is one of heavily indebted Pininfarina's most important customers....
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India's Mahindra said to be in talks to buy car designer Pininfarina

7:49 am U.S. ET | March 25, 2015

Mahindra & Mahindra, India's largest maker of SUVs, is in talks to buy Italian auto design and engineering company Pininfarina SpA, people familiar with the matter told Bloomberg....
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LARRY P. VELLEQUETTE

BLOG: Fiat Chrysler may find perfect partner is from Asia

12:01 am U.S. ET | March 23, 2015

Sergio Marchionne wants a dance partner for Fiat Chrysler Automobiles. The financial media keep trying to fix him up with VW, but I think Marchionne has his eye on a mate in Asia. To me, the best partners, in descending order, are Suzuki, Mazda and Hyundai....
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Pirelli to be bought by ChemChina in $7.7 billion deal

March 23, 2015 09:37 CET

China National Chemical will buy into Pirelli in a $7.7 billion deal that would place one of the symbols of Italy's manufacturing industry in Chinese hands. But the bid may turn into a protracted takeover battle....
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LARRY P. VELLEQUETTE

FCA may find perfect partner is from Asia

12:01 am U.S. ET | March 23, 2015

Sergio Marchionne wants a dance partner for Fiat Chrysler Automobiles. The financial media keep trying to fix him up with Volkswagen, but I think Marchionne has his eye on a mate in Asia. To me, the best partners, in descending order, are Suzuki, Mazda and Hyundai....
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Porsche SE faces payment of 428 million euros in tax arrears

March 18, 2015 12:10 CET

Porsche SE is facing the payment of 428 million euros ($454 million) in tax arrears this year dating back to the period when the company tried to take over Volkswagen. The payment may shrink Porsche SE's net liquidity and cap dividend payouts, finance chief Hans Dieter Poetsch said....
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VW Chairman Piech, Porsche family on witness list in hedge-fund lawsuit

March 18, 2015 11:35 CET

VW Group Chairman Ferdinand Piech and Porsche SE Chairman Wolfgang Porsche are among 21 people who will be asked to testify by a German court in a 1.8 billion euro lawsuit filed by two U.S. hedge funds....
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Fiat Chrysler CEO says combination with GM, Ford 'feasible'

2:47 pm U.S. ET | March 12, 2015

Fiat Chrysler Automobiles CEO Sergio Marchionne says he is open to a combination with General Motors or Ford, and a deal with one of the larger US counterparts would be “technically feasible.”...
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Berkshire Hathaway completes Van Tuyl acquisition

10:51 am U.S. ET | March 10, 2015

Warren Buffett's Berkshire Hathaway completed its purchase of the Van Tuyl Group, the largest dealership acquisition in industry history. All aspects of the sale were finalized Monday. The new Berkshire Hathaway Automotive now is the fifth-largest dealership group in the US....
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