Alpha Gen Capital
Inscrutable • 13 Comments
Mon, Jan. 25, 9:52 AM
- Visteon (VC -41.7%) trades at a sharply lower level to adjust for the payout of a special dividend.
- Shareholders receive $43.40 per share as the company distributed proceeds from the sales of some of its assets.
Wed, Jan. 13, 5:40 PM
Tue, Jan. 12, 4:58 PM
- Visteon (VC +1.6%), a supplier of automotive cockpit electronics, has agreed to acquire India-based AllGo Systems.
- Terms weren't disclosed. AllGo develops Linux- and Android-based embedded multimedia systems for "infotainment" systems in vehicles.
- "AllGo's strong position in multimedia and smartphone connectivity software adds greater scale and depth to Visteon's infotainment software capabilities," says Visteon chief Sachin Lawande. "AllGo's ready-to-use IP provides automotive manufacturers with a turnkey software-on-chip solution to cost-effectively introduce smartphone and mobile applications from the vehicle's audio head unit."
- The deal should close in Q1.
Mar. 2, 2015, 1:57 PM
- There's a broad rally in auto parts stocks underway after a strong read on sales in some key European markets.
- Sales in Spain rose 26% Y/Y in February, while sales improved 7% in Germany and 4.1% in France.
- February U.S. sales are due to be reported tomorrow by manufacturers.
- Gainers: Federal-Mogul (NASDAQ:FDML)+4.1%, Westport Innovations (NASDAQ:WPRT) +2.6%, Modine Manufacturing (NYSE:MOD) +2.6%, Dana Holding (NYSE:DAN) +2.5%, Visteon (NYSE:VC) +2.4%, BorgWarner (NYSE:BWA) +2.4%, Lear (NYSE:LEA) +2.4%, Lydall (NYSE:LDL) +2.2%, Johnson Controls (NYSE:JCI) +2.2%, Delphi Automotive (NYSE:DLPH) +2.0%.
Dec. 17, 2014, 9:35 AM
- Visteon (VC +6%) enters an agreement to sell close to 70% of Halla Visteon Climate Control to an affiliate of Hahn & Company for $3.6B.
- The company says it expects the deal to close in the first half of 2015, but in the meantime is hedging most of the proceeds against currency swings.
- Shares of Visteon perked up in November after the company confirmed it was in talks over a deal.
Sep. 10, 2014, 10:58 AM
- Visteon (NYSE:VC) is discussing a plan to split the companies in two, according to Bloomberg.
- A separation would see one company house the electronics business and the other would have a focus on climate controls.
- Gabelli estimates a breakup could add 25% to share price.
- Shares of VC spiked higher from negative territory and are now up 3.5% on the day.
Jul. 10, 2014, 10:57 AM
Aug. 30, 2012, 9:10 AM
Aug. 13, 2012, 1:07 PM
Aug. 13, 2012, 8:11 AM
Visteon (VC) says Don Stebbins steps down as chairman, CEO and president of the company, and director Timothy Leuliette is named to fill the roles on an interim basis while it searches for a permanent replacement. Visteon, a Ford spinoff, emerged from bankruptcy protection in 2010 under Stebbins. Shares -1.6% premarket.| Aug. 13, 2012, 8:11 AM
Jul. 24, 2012, 1:50 PM
Auto-parts provider Visteon (VC -3.4%) fails in its ~$800M tender offer for the 30% it doesn't own in South Korea's Halla Climate Control, a provider of car air conditioners. The main problem was that Visteon couldn't persuade Halla's second-biggest shareholder, National Pension Service, to take part in the tender.| Jul. 24, 2012, 1:50 PM
Mar. 12, 2012, 1:12 PM
Nov. 2, 2011, 10:54 AMNew directors nominated by activist hedge fund Alden Global are leading a push to break up Visteon (VC +4.3%) even though the auto parts supplier's management has argued against such a move, Reuters reports. The directors were said to have driven key decisions including hiring Goldman Sachs (GS) as an adviser and replacing the company's CFO. (also) | Nov. 2, 2011, 10:54 AM
Oct. 28, 2011, 2:51 PM
Visteon (VC +9.6%) spikes in afternoon trading after five sources tell Bloomberg the automotive systems maker is looking to sell its Lighting and Interiors divisions. The divisions produced $2.7B in revenue last year, and it's speculated they could fetch up to $450M in a sale.| Oct. 28, 2011, 2:51 PM
Sep. 19, 2011, 10:50 AM