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Stock Market & Financial Investment News

News Breaks
May 27, 2014
06:39 EDTDLPHDelphi Automotive price target raised to $84 from $78 at Citigroup
Citigroup raised its price target for Delphi Automotive shares to $84 after meeting with management and keeps a Buy rating on the stock. Citi believes Delphi is exposed to "Car of the Future" trends.
News For DLPH From The Last 14 Days
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February 19, 2015
08:13 EDTDLPHDetroit Economic Club to host a luncheon meeting
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05:39 EDTDLPHDelphi Automotive agrees to sell thermal business to MAHLE
Delphi Automotive announced that it has entered into a definitive agreement to sell its wholly-owned thermal business to MAHLE GmbH for cash consideration of approximately $727M, subject to closing adjustments, which represents an implied EV/LTM EBITDA multiple of approximately 9.5x. The transaction is expected to close in the third quarter of 2015, subject to regulatory approvals. Proceeds from the transaction will be used to fund growth initiatives, including acquisitions and share repurchases. Delphi and MAHLE also signed a separate letter of intent to sell Delphi’s stake in Shanghai Delphi Automotive Air-Conditioning System. Proceeds from this transaction will be in addition to the $727M paid for the wholly-owned operations. Delphi’s Thermal division had 2014 revenues of $1.6B, with approximately 6,700 employees and 13 plants globally. The results of operations of the Thermal division business will be reported as discontinued operations beginning in the first quarter of 2015.

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