ADVFN - Advanced Financial Network.
HOME» NYSE » M » MGA Stock Price » MGA Stock News

Magna Share News

 Magna International Inc. Stock Price
MGA Stock Price
 Magna International Inc. Stock Chart
MGA Stock Chart
 Magna International Inc. Stock News
MGA Stock News
 Magna International Inc. Company Information
MGA Company Information
 Magna International Inc. Stock Trades
MGA Stock Trades

German Cartel Office Blocks Magna, Karmann Deal

FRANKFURT -(Dow Jones)- Germany's Cartel Office Wednesday blocked the takeover of auto parts supplier Wilhelm Karmann GmbH's convertible roof systems unit by Austrian-Canadian auto parts maker Magna International Inc. (MGA) as previously indicated. "In an already highly concentrated market the combination of Magna and Karmann would have led to [a situation] where only two providers of convertible roof systems exist in Europe," Cartel Office president Andreas Mundt said in a statement. Following Webasto AG's takeover of Edscha AG's convertible roof systems unit last year, the German Cartel Office had indicated it wouldn't be happy with further takeovers in this sector. Karmann filed for bankruptcy protection April 8, 2009. Before filing for insolvency, Karmann produced roof systems for Daimler AG's (DAI) Mercedes-Benz brand, Volkswagen AG (VOW.XE) and Renault SA (RNO.FR) among others. Volkswagen, which like Karmann is headquartered in the German state of Lower Saxony, bought land, machinery and equipment parts from the troubled firm in November 2009. "We know about the precarious situation of the company...but to our knowledge...there are several seriously interested bidders," Mundt said. Spanish auto component supplier CIE Automotive SA (CIE.MC) has repeatedly been named as a potential buyer. -By Christoph Rauwald, Dow Jones Newswires; +49 69 29 725 512; christoph.rauwald@dowjones.com

Stock News for Magna (MGA)
DateTimeHeadline
11/15/201306:57:25Millennium Management 3Q 13F: Largest Eliminations
11/15/201306:57:17Millennium Management 3Q 13F: Largest Eliminations -2-
11/15/201306:57:17Millennium Management 3Q 13F: Largest Sales
11/15/201306:57:17Millennium Management 3Q 13F: Largest Purchases
11/15/201306:39:13CR Intrinsic Investors 3Q 13F: Largest Purchases
11/15/201306:39:13CR Intrinsic Investors 3Q 13F: Holdings As Of Sep -2-
11/15/201306:39:13CR Intrinsic Investors 3Q 13F: Holdings As Of Sep 30
11/15/201306:39:13CR Intrinsic Investors 3Q 13F: Largest Purchases -2-
11/29/201211:23:48Magna Wins EU Approval to Acquire German Car Supplier ixetic
11/23/201208:14:11Magna, Avtotor Sign Deal to Develop Russia Manufacturing Cluster
10/05/201207:13:36GM Vice Chairman Confirms That Opel Unit Isn't for Sale
10/01/201207:06:50Magna to Acquire ixetic Verwaltungs for EUR308 million
12/18/201110:04:22Magna Steyr To Develop Nissan Infiniti Entry Model Based On Mercedes-Report
11/03/201112:25:50Magna 3Q Profit Slumps 62% On Charges; Below Expectations
06/09/201106:38:06Opel CEO Says Reports Of Sale Are "Pure Speculation"
02/23/201103:38:31Belgian's RHJ Sells Niles Co To Valeo For EUR138 Million
01/21/201111:51:14GM Hired Alix Partners To Speed Up European Turnaround-Source
01/10/201117:06:34GM Europe President: Market Won't Return To Pre-Crisis Level...
01/04/201106:04:20Pininfarina: Still Gathering Offers From Potential Bidders
12/05/201009:19:12Continental AG Nominates Siegfried Wolf To Supervisory Board

Magna and other New York Stock Exchange stock quotes are delayed by at least 20 minutes.
All other stock price data is delayed by at least 15 minutes unless otherwise stated.
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions
Contact Us | Copyright 1999-2007 ADVFN PLC. | Privacy Policy | Investment Warning | Data accreditations | Investor Relations

ADVFNADVFN ItalyADVFN GermanyADVFN FranceADVFN BrazilADVFN JapanADVFN UKADVFN US noad