New User:

-or-
Username:
Password:
Forgot your password?

Stock Market & Financial Investment News

News Breaks
January 27, 2014
07:46 EDTTTMTata Motors confirms death of Managing Director Karl Slym
Tata Motors said in a statement that it "deeply regrets to announce the untimely and tragic demise of its Managing Director, Karl Slym, in Bangkok." Tata added, "Karl Slym joined Tata Motors in October 2012, and was providing leadership to the company through a challenging market environment. The company shares in the grief of Karl Slym's wife and family at their irreparable loss." Shares of Tata Motors are down 3%, or 86c, to $27.98 in pre-market trading.
News For TTM From The Last 14 Days
Sign up for a free trial to see the rest of the stories you've been missing.
September 22, 2014
10:15 EDTTTMOn The Fly: Analyst Upgrade Summary
Subscribe for More Information
08:40 EDTTTMTata Motors upgraded to Outperform from Neutral at Credit Suisse
08:20 EDTTTMTTM Technologies to acquire Viasystems for $16.46 per share in cash and stock
TTM Technologies (TTMI) and Viasystems Group (VIAS) announced the execution of a definitive agreement under which TTM will acquire all outstanding shares of Viasystems for a combined consideration of $11.33 in cash and 0.706 shares of TTM common stock, which based on the closing market price on September 19 was valued at $16.46 per Viasystems share, or approximately $368M. The total enterprise value of the transaction, including the assumption of debt, is approximately $927M. TTM has identified at least $25 million in pre-tax cost synergies which are expected to be realized within the first year. These will result from combining the sales and general and administrative functions of the two companies. TTM believes that significant additional synergies will result from other integration efforts over a longer period of time. This transaction is expected to be materially accretive to non-GAAP earnings per share in the first year. TTM expects to utilize a new $1.3 billion senior secured credit facility to finance the cash portion of the purchase price, refinance certain debt at each company, and provide liquidity for working capital and general corporate purposes. TTM has received a fully-underwritten financing commitment from J.P. Morgan and Barclays to finance the transaction. The transaction is subject to customary closing conditions, including regulatory approvals and approval by the shareholders of Viasystems. The transaction is expected to close in the first half of 2015. J.P. Morgan acted as financial advisor for TTM, and Stifel acted as financial advisor for Viasystems.

Sign up for a free trial to see the rest of the stories you've been missing.

I agree to the theflyonthewall.com disclaimer & terms of use