Takeover

Austal confirms getting a takeover offer from Hanwha Ocean

Rumors that Australian shipbuilder Austal Limited (ASX:ASB) was the target of a takeover bid have been circulating since last July. Now, it seems, there’s some truth in one of them. In an April 1, ASX stock exchange filing, Austal (which is, of course, the parent of Austal USA) confirmed that it has confirms it received an unsolicited, conditional and non-binding indicative proposal from Korea’s Hanwha Ocean Co., Ltd under which Hanwha would acquire Austal by way of a scheme of arrangement that...

https://www.marinelog.com/news/austal-confirms-takeover-offer-from-hanwha-ocean/

BorgWarner completes $3.3 billion takeover of Delphi Technologies

BorgWarner Inc. (NYSE: BWA) has completed its takeover of Delphi Technologies, the last vestige of the once-vast General Motors Co. (NYSE: GM) Worldwide Components Group.

The $3.3 billion stock deal positions BorgWarner to grow as a leader in electrified propulsion systems for cars and heavy-duty trucks. The merger was announced in January. BorgWarner and Delphi Technologies estimate they generated $10.17 billion and $4.36 billion in net sales respectively in the 2019 fiscal year.

It is the...

https://s29755.pcdn.co/news/borgwarner-completes-33-billion-takeover-of-delphi-technologies

Will TRATON offer enough to swallow Navistar?

TRATON Headquarters

TRATON Group parent Volkswagen AG is willing to pay more than the $700 million sweetener in its latest $43-a-share offer for Navistar International Corp. (NYSE: NAV).

“Navistar’s board of directors and management team are committed to exploring all avenues to maximize value,” Navistar said in a statement Thursday acknowledging the new offer. TRATON offered $2.9 billion, or $35 a share, Jan. 30 for the 83% of Navistar it does not already own.

It appears unlikely the revised offer is enough for...

https://s29755.pcdn.co/news/will-traton-offer-enough-to-swallow-navistar

Report: TRATON-Navistar merger talks heat up

Seven months after TRATON SE (ETR: 8TRA) offered $2.9 billion offer to acquire the rest of Navistar International Corp. (NYSE: NAV)  the on-again, off-again merger talks may be heating up, according to a Bloomberg report.

TRATON is the truck holding company of German automaker Volkswagen AG. It owns about 16.7% of Navistar, which builds International-brand trucks, school buses, defense vehicles and engines. 

On Jan. 30, TRATON offered $35 a share in cash for the rest of Navistar shares. But it...

https://s29755.pcdn.co/news/report-traton-navistar-merger-talks-heat-up