(Reuters) – Activist investor Carl Icahn said on Tuesday he was selling auto parts maker Federal-Mogul to Tenneco Inc (TEN.N) in a $5.4 billion deal, unloading an investment he has held for nearly two decades and picking up a new stake in Tenneco. Tenneco plans to separate into two independent, publicly traded companies – one… Continue reading Icahn to sell Federal-Mogul to Tenneco for $5.4 billion
Tag: Morgan
UPDATE 2-Icahn to sell Federal-Mogul to Tenneco for $5.4 bln
(Reuters) – Activist investor Carl Icahn said on Tuesday he was selling auto parts maker Federal-Mogul to Tenneco Inc (TEN.N) in a $5.4 billion deal that will also give him a stake in the company. FILE PHOTO: Billionaire activist investor Carl Icahn gives an interview on FOX Business Network’s Neil Cavuto show in New York… Continue reading UPDATE 2-Icahn to sell Federal-Mogul to Tenneco for $5.4 bln
China’s Ehi Car Services to be taken private by CEO-led group in $937.5m deal
April 8, 2018 Chinese car rental company Ehi Car Services Ltd said on Friday the company would be taken private by a consortium led by its Chief Executive Officer Ray Ruiping Zhang in a deal valued at about $937.5 million. The offer of $13.50 in cash per American depositary share of Ehi represents a 15.4 percent premium to the company’s close on… Continue reading China’s Ehi Car Services to be taken private by CEO-led group in $937.5m deal
Analyst: F-Series one reason to bet on Ford
Ford’s F-150 franchise might be worth more than the entire company, Adam Jonas said. (Photo: Ford) Ford Motor Co.’s F-150 franchise might be worth more than the entire company, according to Morgan Stanley equity analyst Adam Jonas. That’s one reason the Wall Street analyst on Wednesday raised his price target for the company from $10… Continue reading Analyst: F-Series one reason to bet on Ford
Limited-run Morgan Aero GT revealed at Geneva Motor Show
Morgan has revealed its race-inspired Aero GT at the 2018 Geneva Motor Show. As a swansong to the Aero 8 sports car, just eight Aero GTs will be built and every one has been sold; at a cost of £120,000 plus local taxes. The Malvern-based manufacturer claims the Aero GT is the “most extreme road-going Morgan to… Continue reading Limited-run Morgan Aero GT revealed at Geneva Motor Show
Morgan Plus 8 50th Anniversary launched
Morgan is marking the 50th year of its Plus 8 sports car with a new special edition of which just 50 examples will be produced. Revealed at the Geneva motor show, the new 50th Anniversary model will be among the very last cars to use a BMW N62 V8 engine, which bows out with the… Continue reading Morgan Plus 8 50th Anniversary launched
How Geely’s Li Shufu spent months stealthily building a $9 billion stake in Daimler
SHANGHAI/BEIJING (Reuters) – When Daimler announced that Li Shufu had acquired almost 10 percent of the automaker last Friday, it caught financial markets – and German regulators – by surprise. Although the move seemed sudden, the head of the Chinese carmaker Geely had, according to multiple sources and documents reviewed by Reuters, spent months stealthily… Continue reading How Geely’s Li Shufu spent months stealthily building a $9 billion stake in Daimler
China startup Nio hires eight banks for $2 bn US IPO
Other banks are Bank of America Merrill Lynch, Credit Suisse, Citigroup, Deutsche Bank, JPMorgan and UBS, said the people, declining to be identified as the deal details are not public. HONG KONG: Chinese electric vehicle startup Nio has hired eight banks including Morgan Stanley and Goldman Sachs to work on a planned US stock market… Continue reading China startup Nio hires eight banks for $2 bn US IPO
Lithium prices to fall 45% by 2021, Morgan Stanley says
Keep abreast of significant corporate, financial and political developments around the world. Stay informed and spot emerging risks and opportunities with independent global reporting, expert commentary and analysis you can trust. Choose the subscription that is right for you Read more For 4 weeks receive unlimited Premium digital access to the FT’s trusted, award-winning business… Continue reading Lithium prices to fall 45% by 2021, Morgan Stanley says
Marchionne leaves Fiat … and among these is his substitute
The charismatic CEO of the FCA Group, Sergio Marchionne, has barely a year left to retire and, as pointed out by some information such as that offered by Automotive News, the Italian leader would already be organizing his farewell. After almost 15 years at the top of the Executive Board of Fiat (he was named… Continue reading Marchionne leaves Fiat … and among these is his substitute