Business Services Industry
Fed-Mogul plans big buy; purchase of parts-maker T&N would double its size. (Federal-Mogul Corp.)
Crain's Detroit Business, September, 1997 by Sherefkin, Robert
Purchase of parts-maker T&N would double its size Federal-Mogul Corp. wants to more than double its size to $5 billion in sales with its planned purchase of British engine parts-maker T&N plc. Federal-Mogul Chairman and CEO Richard Snell Friday asked T&N Chairman Sir Colin Hope to recommend to his board the sale of the company, said Kim Welch, Federal-Mogul's corporate communications director.
The estimated bid is $2.4 billion in cash and assumed debt. "We think the company would be a great fit," she said. "They have a complementary product line and certainly the global reach." T&N said it is considering the approach with its adviser, N M Rothchild & Sons Ltd., Bloomberg News reported. The offer of $3.78 a share, or about $2 billion, represents a premium of 29...
Most Recent Business Articles
- Multiple criteria evaluation and optimization of transportation systems
- Multi-criteria analysis procedure for sustainable mobility evaluation in urban areas
- A two-leveled multi-objective symbiotic evolutionary algorithm for the hub and spoke location problem
- Multi-criteria analysis for evaluating the impacts of intelligent speed adaptation
- The development of Taiwan arterial traffic-adaptive signal control system and its field test: a Taiwan experience
Most Recent Business Publications
Most Popular Business Articles
- 7 tips for effective listening: productive listening does not occur naturally. It requires hard work and practice - Back To Basics - effective listening is a crucial skill for internal auditors
- FAS 109: a primer for non-accountants - Financial Accounting Standards Board's "Statement 109: Accounting for Income Taxes"
- LIFO vs. FIFO: a return to the basics
- Design a commission plan that drives sales - Sales Commissions
- Too Young to Rent a Car? - 25-years-old the minimum age for car renting - Brief Article
