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July 11, 2014
15:18 EDTTRW, MGA, DLPHZF Friedrichshafen may lack funds to get TRW Automotive deal done, Reuters says
ZF Friedrichshafen, a private company that is reportedly mulling a $11B bid for TRW Automotive (TRW), may not be able to come up with the capital to get a deal done, according to Reuters Breakingviews, which added that Magna (MGA) and Delphi Automotive (DLPH) had advantages to getting a deal done, as they are public and can tap equity markets.
News For TRW;DLPH;MGA From The Last 14 Days
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February 26, 2015
07:42 EDTMGAMagna remains on track for good growth in coming years, says Canaccord
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February 25, 2015
05:27 EDTMGAMagna sees FY15 North America light vehicle production of 17.4M
Sees FY15 Europe light vehicle production of 20.4M
05:26 EDTMGAMagna sees FY15 total sales $33.1B-$34.8B, consensus $36.22B
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05:25 EDTMGAMagna board increases quarterly dividend by 16% to 44c
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05:24 EDTMGAMagna board approves two-for-one stock split of outstanding common shares
Magna board has approved a two-for-one stock split of the company's outstanding Common Shares. The two-for-one stock split will be implemented by way of a stock dividend. Subject to regulatory approval, shareholders will receive one additional Common Share of the company for each Common Share held. The stock dividend will be payable on March 25, 2015, to shareholders of record at the close of business on March 11, 2015.
05:23 EDTMGAMagna reports Q4 EPS $2.44, consensus $2.25
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February 24, 2015
15:21 EDTMGANotable companies reporting before tomorrow's open
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February 23, 2015
07:14 EDTMGASamsung SDI to buy Magna's battery pack business, financial terms not disclosed
Samsung SDI Co. Ltd. has agreed to acquire the battery pack business of Magna International. Under the agreement, Samsung SDI will acquire the entire battery pack business from Magna Steyr, an Austria-based operating unit of Magna International, including all 264 employees, production and development sites and existing contracts of the business. Financial terms of the deal will not be disclosed. The transaction is expected to be completed during the first half of 2015, pending regulatory approvals.
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.
February 13, 2015
07:06 EDTTRWTRW Automotive sees Q1 revenue approximately $4.2B, consensus $4.47B
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07:06 EDTTRWTRW Automotive sees FY15 revenue $16.6B-$16.9B, consensus $17.99B
TRW's planning assumptions for industry production volumes in 2015 are approximately 17.4 million units in North America and 20.0 million units in Europe, up 2% and flat, respectively, compared to 2014 levels. The Company continues to expect expansion in vehicle production volumes in China and rest of world regions.
07:05 EDTTRWTRW Automotive expects ZF Friedrichshafen transaction to close in 1H15
07:05 EDTTRWTRW Automotive reports Q4 EPX excl items $2.31, consensus $1.87
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