U.K. engineer GKN Plc agreed to sell its automotive unit to U.S.-based Dana Inc. in a $6.1 billion transaction aimed at repelling a hostile takeover from investment group Melrose Industries Plc. GKN shareholders would get stock in the new group valued at $3.5 billion, plus $1.6 billion of cash, and Dana would assume $1 billion… Continue reading GKN Seals $6.1 Billion Dana Autos Deal to Fend Off Melrose
Tag: M and A
Aston Martin’s Mid-Engine Car Will Likely Have a Bespoke Engine, Might Have Manual Gearbox
Aston Martin CEO Andy Palmer is one of the good ones. He’s not just another talking head spouting the company line in rehearsed statements. He says more of substance than most CEOs, and he’s intensely interesting and opinionated. He also doesn’t hold back when it comes to information on the future of where the brand… Continue reading Aston Martin’s Mid-Engine Car Will Likely Have a Bespoke Engine, Might Have Manual Gearbox
Eight out of 10 Latin Americans open to buying an electric vehicle
SAO PAULO – Eight out of 10 Latin Americans are willing to buy an electric vehicle, according to a study commissioned by Nissan. With the proper measures, Latin America has opportunities to speed up the adoption of electric and autonomous vehicles, according to the study by C230, a consultant branch of the think tank Fundacion… Continue reading Eight out of 10 Latin Americans open to buying an electric vehicle
GKN and Dana agree auto-engineering merger for $6.1bn
UK engineering giant GKN has agreed to merge part of its business with US company Dana, as it seeks to fend off a takeover bid from Melrose Industries. The merger will combine GKN’s Driveline division with US auto-engineer Dana in a deal worth $6.1bn (£4.4bn). It comes as Melrose has a £7.4bn offer on the… Continue reading GKN and Dana agree auto-engineering merger for $6.1bn
Same driver, different vehicle: Bringing Waymo self-driving technology to trucks
Same driver, different vehicle: Bringing Waymo self-driving technology to trucks Waymo’s mission has always been to make it safe and easy for people and things to move around. So far, the focus has mostly been on people; last fall we put the world’s first fleet of fully self-driving cars on public roads in the Phoenix area.… Continue reading Same driver, different vehicle: Bringing Waymo self-driving technology to trucks
Dana Announces Agreement to Combine with GKN’s Driveline Division
MAUMEE, Ohio, March 9, 2018 /PRNewswire/ — Dana Incorporated (NYSE: DAN) announced today that it has signed definitive agreements to combine with the Driveline division of GKN plc (LON: GKN) to create Dana plc, a global leader in driveline systems. The total consideration is composed of $1.6 billion in cash proceeds to GKN plc, the assumption… Continue reading Dana Announces Agreement to Combine with GKN’s Driveline Division
Mazda and Toyota invest 1,300 million in a joint venture to produce 300,000 vehicles in the US
Posted 09/03/2018 11: 42: 09CET HUNTSVILLE (UNITED STATES), 9 Mar. (EUROPA PRESS) – Mazda and Toyota have invested 1,600 million dollars (1,300 million euros at the current exchange rate) in a joint venture with headquarters in Huntsville, in the State of Alabama (United States), through which they will manufacture up to 300,000 vehicles from of… Continue reading Mazda and Toyota invest 1,300 million in a joint venture to produce 300,000 vehicles in the US
Grab Unveils Southeast Asia’s First Bike-Sharing Marketplace App
Singapore, 9 March 2018 – Grab, the leading on-demand transportation and mobile payments platform in Southeast Asia, today unveiled GrabCycle Beta, a marketplace app that will bring mobility partners oBike, GBikes, Anywheel and Popscoot into a single app. With GrabCycle, it’s easy for anyone to find a bike or an e-scooter whenever they need one.… Continue reading Grab Unveils Southeast Asia’s First Bike-Sharing Marketplace App
DENSO to Increase Its shareholding in Renesas Electronics Corporation
KARIYA (Japan) ― DENSO Corporation today announced that it has decided to increase its shareholding in Renesas Electronics Corporation to accelerate the development of various in-vehicle systems including automated driving systems that are becoming more advanced, complicated, and larger in scale than ever before. Renesas has cutting-edge technologies for semiconductors that serve as the key devices… Continue reading DENSO to Increase Its shareholding in Renesas Electronics Corporation
Mazda and Toyota Establish Joint-Venture Company “Mazda Toyota Manufacturing, U.S.A., Inc.”
HUNTSVILLE, Ala., (March 8, 2018) / HIROSHIMA and TOYOTA-CITY, Japan (March 9, 2018) – Mazda Motor Corporation and Toyota Motor Corporation have established their new joint-venture company “Mazda Toyota Manufacturing, U.S.A., Inc.” (MTMUS) that will produce vehicles in Huntsville, Alabama starting in 2021.