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
02/08/201710:02:00Notice of Conference Call for Fourth Quarter and Year End 2016...
02/08/201709:14:00Notice of Conference Call for Fourth Quarter and Year End 2016...
02/08/201709:14:00Notice of Conference Call for Fourth Quarter and Year End 2016...
01/11/201707:34:06Report of Foreign Issuer (6-k)
01/11/201706:40:00Magna Announces Outlook
01/11/201706:40:00Magna Announces Outlook
01/11/201706:40:00Magna Announces Outlook
01/09/201716:15:00Magna demonstrates lightweighting expertise with ultralight door...
01/09/201716:15:00Magna demonstrates lightweighting expertise with ultralight door...
12/20/201609:00:00CES 2017: Magna and Innoviz partner on LiDAR for autonomous driving...
12/20/201609:00:00CES 2017: Magna and Innoviz partner on LiDAR for autonomous driving...
12/14/201613:33:00Magna Brings Innovative Car of the Future Experience to CES 2017
12/14/201613:33:00Magna Brings Innovative Car of the Future Experience to CES 2017
12/07/201610:02:00Magna Named One of the Best Places to Work in Canada
12/06/201611:00:00Magna secures new seat business
12/06/201611:00:00Magna secures new seat business
11/14/201617:49:54Report of Foreign Issuer (6-k)
11/10/201617:12:04Report of Foreign Issuer (6-k)
11/10/201617:01:00TSX accepts Notice of Intention to Make Normal Course Issuer...
11/10/201617:01:00TSX Accepts Notice of Intention to Make Normal Course Issuer...

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 1999-2016 ADVFN PLC. | Privacy Policy | Investment Warning | Data accreditations | Investor Relations

ADVFNADVFN ItalyADVFN GermanyADVFN FranceADVFN BrazilADVFN JapanADVFN UKADVFN US