FILE PHOTO: An electric scooter from the ride sharing company Lyft is shown on a downtown sidewalk in San Diego, California, U.S., March 15, 2019. REUTERS/Mike Blake NEW YORK (Reuters) – Lyft Inc’s initial public offering (IPO) is oversubscribed based on commitments made so far by investors, making it more likely that the ride-hailing startup… Continue reading Exclusive: Lyft’s IPO already oversubscribed – sources
Tag: GM
Fiat Chrysler gains after Peugeot president points to merger potential
Daniel Acker | Bloomberg | Getty Images
A row of Fiat Chrysler Automobiles (FCA) 2017 Crysler Pacifica minivan vehicles are displayed for sale at a car dealership in Moline, Illinois, on Saturday, July 1, 2017.
Fiat Chrysler shares jumped on Tuesday to the top of Europe's STOXX 600 after the president of Peugeot family holding company FFP told French daily Les Echos he would support a new deal and suggested Fiat Chrysler was among the options.
“With them, as with others, the planets could be aligned,” Robert Peugeot was reported as saying, asked about targets for acquisitions or mergers.
Fiat Chrysler declined to comment.
Shares in the Italian-American carmaker were up 5.2 percent by 6:50 a.m. EST, while Peugeot gained 2.7 percent, helping boost Europe's autos index which was up 2.5 percent.
Peugeot's remarks came on the heels of reports the group's CEO Carlos Tavares is open to deals and that Fiat, General Motors, and Jaguar Land Rover could be ideal partners.
FCA's new boss Mike Manley, who took over after deal-making guru Sergio Marchionne died last year, said this month the carmaker was open to pursuing alliances and merger opportunities if they make sense and strengthen its future.
FCA is often cited as a possible merger candidate because of its strong exposure to the North American market, where it generates the lion's share of profits, and because of its popular Jeep, RAM and Maserati brands.
“PSA is essentially an EU pure play as things stand (roughly 90 percent of consolidated unit sales in EU) so an acquisition of a company with a broader reach would make strategic sense,” said Evercore ISI analyst Arndt Ellinghorst.
Investors and analysts alike were wary of betting on an imminent deal, though, mindful of potential antitrust obstacles.
“Although we believe that some M&A could materialize in the automotive sector, we do not expect it in the short term,” said Mediobanca Securities analyst Andrea Balloni.
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Fiat Chrysler revs up as Peugeot points to merger potential
LONDON (Reuters) – Fiat Chrysler shares jumped on Tuesday to the top of Europe’s STOXX 600 after the president of Peugeot family holding company FFP told French daily Les Echos he would support a new deal and suggested Fiat Chrysler was among the options. FILE PHOTO: Fiat Chrysler Automobiles logo is seen on a panel… Continue reading Fiat Chrysler revs up as Peugeot points to merger potential
Peugeot ready to support a PSA offensive
They agree with the applied historical epithet PSA’s latest financial results. Six years after the eventual rescue of the automaker then under water, members of the Peugeot bicentennial dynasty can only congratulate the return to grace of the group led by Carlos Tavares. “The Opel operation is an exceptional success, we did not think that… Continue reading Peugeot ready to support a PSA offensive
Sikeres termeléstámogatás Thaiföldön
*/ ]]> A benzines SGE motorjainkra mutatkozó növekvő vevői igény kielégítése érdekében a szerelt üzemanyagcső beszállítója, a Continental egy thaiföldi céget, a Global Thaixont ofta be az üzemanyagcső injector csatlakozó megmunkálásába. Az Opel Szentgotthárd munkatársai közül február elején chains, az EEST osztályról Tollas Gábor Group Leader és Herczeg Szabolcs NC Technológus is kiutaztak Bangkok ipari… Continue reading Sikeres termeléstámogatás Thaiföldön
Area Toyota plants to lose 10% of production but new vehicle may loom – Simcoe Reformer
Toyota assembly plants in Southwestern Ontario will lose about 10 per cent of their total production, 50,000 vehicles a year, the second blow to the automotive sector here in recent months. Parked cars line the parking lot at the Toyota plant in Cambridge, Ontario on Tuesday February 10, 2015. (File photo) Toyota assembly plants in… Continue reading Area Toyota plants to lose 10% of production but new vehicle may loom – Simcoe Reformer
GM Cruise snags Dropbox HR head to hire at least 1,000 engineers by end of year
GM Cruise plans to hire hundreds of employees over the next nine months, doubling its engineering staff, TechCrunch has learned. It’s an aggressive move by the autonomous vehicle technology company to double its size as it pushes to deploy a robotaxi service by the end of the year. Arden Hoffman, who helped scale Dropbox, will… Continue reading GM Cruise snags Dropbox HR head to hire at least 1,000 engineers by end of year
GM considers options for its Lyft stake following IPO
DETROIT (Reuters) – As Lyft Inc cruises toward an initial public offering this month, one of the big winners will be General Motors Co, whose stake in the ride-hailing firm could be worth as much as $1.27 billion. The GM logo is seen at the General Motors plant in Sao Jose dos Campos, Brazil, January… Continue reading GM considers options for its Lyft stake following IPO
Lyft sets $62-68 price range for its IPO to raise up to $2.1B, will trade as LYFT on Nasdaq
Ride-sharing startup Lyft, as expected, announced this morning that it is kicking off the roadshow for its IPO — setting the clock ticking for its IPO likely in the next two weeks. Around that, it also filled in some more details. The stock will trade as “LYFT” on Nasdaq, and the IPO range is currently set for… Continue reading Lyft sets $62-68 price range for its IPO to raise up to $2.1B, will trade as LYFT on Nasdaq
Car manufacturers: dispute at Opel escalates – employee representatives reject negotiations with Segula
Protests against sales plans in December 2018 2,000 of the 7,000 engineers currently employed by Opel at its headquarters in Rüsselsheim are to be outsourced to Segula by the summer of 2019. (Photo: AP) MunichThe managers of Opel and Segula agree: your project is a “triple win”. Everyone will benefit: the hessian automaker, the French… Continue reading Car manufacturers: dispute at Opel escalates – employee representatives reject negotiations with Segula