Advertisement
YOU ARE HERE: LAT HomeCollectionsLucasvarity Company
IN THE NEWS

Lucasvarity Company

FEATURED ARTICLES
BUSINESS
January 30, 1999 | Reuters
Auto parts maker Federal-Mogul Corp. moved forward with a potential bid for Britain's LucasVarity, saying it signed a confidentiality agreement and will start examining LucasVarity's books Monday. The development comes one day after TRW Inc. agreed to buy LucasVarity for $6.6 billion in cash. Southfield, Mich.-based Federal-Mogul had proposed buying LucasVarity for $6.4 billion in cash and stock, but was rebuffed in favor of TRW.
ARTICLES BY DATE
BUSINESS
February 19, 1999 | JAMES F. PELTZ, TIMES STAFF WRITER
More corporate fireworks are coming from TRW Inc. Or so it's widely believed on Wall Street. Speculation is rampant that the maker of automotive parts and space and defense gear is preparing to make big changes that could involve TRW's either buying more companies--including possibly Northrop Grumman or Litton Industries--or splitting up its existing operations. The rumors intensified this month when TRW agreed to acquire British auto parts maker LucasVarity for $6.6 billion.
Advertisement
BUSINESS
September 10, 1998 | Bloomberg News
LucasVarity, a British maker of automotive brakes, said it will reorganize as a U.S.-based company and exchange current shares for new shares in the company, in an effort to move closer to its big customers and take advantage of cheaper borrowing costs. The company will shift its headquarters to Buffalo, N.Y., and list its shares on the New York Stock Exchange. The move will bring LucasVarity closer to its biggest customer, Detroit-based General Motors Corp.
BUSINESS
February 11, 1999 | From Reuters
Auto parts maker Federal-Mogul Corp. said Wednesday that it will not pursue a rival bid for LucasVarity, clearing the way for TRW Inc. to conclude the agreement it reached to acquire the British auto parts and aerospace company for $6.6 billion. "We remain committed to completing the transaction within the announced timetable," TRW Chief Executive Joseph Gorman said. The deal, which comes amid widespread industry consolidation, calls for TRW to pay $47.
BUSINESS
February 11, 1999 | From Reuters
Auto parts maker Federal-Mogul Corp. said Wednesday that it will not pursue a rival bid for LucasVarity, clearing the way for TRW Inc. to conclude the agreement it reached to acquire the British auto parts and aerospace company for $6.6 billion. "We remain committed to completing the transaction within the announced timetable," TRW Chief Executive Joseph Gorman said. The deal, which comes amid widespread industry consolidation, calls for TRW to pay $47.
BUSINESS
January 29, 1999 | DONALD W. NAUSS, TIMES STAFF WRITER
Consider the state of the world's auto industry: a glut of 20 million vehicles; 75% of auto makers are losing money; consumers demand more but want to pay less; regulators are mandating new, cleaner engines; and suppliers are being squeezed to lower costs. It all adds up to a caldron of forces feeding a mergers and acquisitions frenzy of historic proportions. The breakneck speed of change was evident Thursday as two major deals totaling nearly $15 billion in value were announced.
BUSINESS
February 19, 1999 | JAMES F. PELTZ, TIMES STAFF WRITER
More corporate fireworks are coming from TRW Inc. Or so it's widely believed on Wall Street. Speculation is rampant that the maker of automotive parts and space and defense gear is preparing to make big changes that could involve TRW's either buying more companies--including possibly Northrop Grumman or Litton Industries--or splitting up its existing operations. The rumors intensified this month when TRW agreed to acquire British auto parts maker LucasVarity for $6.6 billion.
BUSINESS
January 30, 1999 | Reuters
Auto parts maker Federal-Mogul Corp. moved forward with a potential bid for Britain's LucasVarity, saying it signed a confidentiality agreement and will start examining LucasVarity's books Monday. The development comes one day after TRW Inc. agreed to buy LucasVarity for $6.6 billion in cash. Southfield, Mich.-based Federal-Mogul had proposed buying LucasVarity for $6.4 billion in cash and stock, but was rebuffed in favor of TRW.
BUSINESS
January 29, 1999 | DONALD W. NAUSS, TIMES STAFF WRITER
Consider the state of the world's auto industry: a glut of 20 million vehicles; 75% of auto makers are losing money; consumers demand more but want to pay less; regulators are mandating new, cleaner engines; and suppliers are being squeezed to lower costs. It all adds up to a caldron of forces feeding a mergers and acquisitions frenzy of historic proportions. The breakneck speed of change was evident Thursday as two major deals totaling nearly $15 billion in value were announced.
BUSINESS
September 10, 1998 | Bloomberg News
LucasVarity, a British maker of automotive brakes, said it will reorganize as a U.S.-based company and exchange current shares for new shares in the company, in an effort to move closer to its big customers and take advantage of cheaper borrowing costs. The company will shift its headquarters to Buffalo, N.Y., and list its shares on the New York Stock Exchange. The move will bring LucasVarity closer to its biggest customer, Detroit-based General Motors Corp.
Los Angeles Times Articles
|