Activist investor Carl Icahn reportedly bought 30 to 40 million shares in car rental company Hertz Global Holdings Inc. Sources said that Icahn is the target of the poison pill adopted by Hertz on Monday.
Automotive
Mitsubishi Motors to raise up to $2.3B in share sale, resume dividend payments
Mitsubishi Motors Corp., which was bailed out by other Mitsubishi companies almost a decade ago, seeks to raise up to ¥241.6 billion ($2.3 billion) in a share sale. The said proceeds will enable it to resume dividend payments for the first time in more than 15 years.
Australia's Champ Ventures eyes SG Fleet IPO in early 2014
Australia-based private equity group Champ Ventures plans to exit its 42% stake in fleet management and leasing firm SG Fleet via initial public offering (IPO) by the end of 2014's first quarter.
Nidec Sankyo acquires Mitsubishi Materials CMI unit in Japan
Japanese electric motors manufacturer Nidec Sankyo Corp completed the purchase of Mitsubishi Materials CMI Corp for an undisclosed sum, according to an announcement made by Nidec Corp.
Mobileye incorporates Collision avoidance system with Accel's VOYAGER connected car smartphone
Privately-held developer of Advanced Driver Assistance Systems Mobileye partnered with Israel-based Accel Telecom Ltd for the integration of its Collision avoidance system with Accel's VOYAGER connected car smartphone.
Latest News
US-based firm Cooper Tire & Rubber Company announced via press release that it has called off its merger plans with India-based manufacturer Apollo Tyres and will focus on building its business instead.
Fisker Automotive, the bankrupt maker of plug-in hybrid sports cars, seeks a bankruptcy court ruling rejecting the company's sale to Chinese auto parts company Wanxiang Group. Fisker blames Wanxiang for its bankruptcy.
Despite the relatively low price Fiat managed to score in its buyout of Chrysler Group LLC, analysts said the ballooning debt of Fiat should be something to worry about.
Italian automaker Fiat SpA has agreed to buy the remaining stake of Chrysler Group held by the United Auto Workers retiree healthcare trust, paving the way for both carmakers to finally merge.
The officials of Caddo Parish's Industrial Development Board closed the deal on Friday afternoon to acquire the former General Motors (GM) facility from RACER Trust for $7.5 million.
Hyundai Motor Co. on Friday named sales chief David Zuchowski as the new chief of its US arm. Zuchowski will replace incumbent US chief John Krafcik, whose contract expires at the end of the year.
Volkswagen AG's Audi division said today in a statement that it is aiming to challenge major automobile players in terms of global sales by pouring in €22 billion or $30.3 billion in auto model and technology development through 2018.
India-based integrated components manufacturer Amtek Auto agreed to acquire significant business interests in Germany-based integrated machine manufacturer Kuepper group in a deal reportedly valued at €200 million.
Cessna aircrafts and Bell helicopters maker Textron Inc said it had approved the purchase of Beechcraft Corp in a deal worth $1.4 billion, Bloomberg reported.
