A century of mergers and buyouts
02-20-09, 06:25 PM
#1
Keeper of the light
Thread Starter
iTrader: (17)
A century of mergers and buyouts
1904: Ford starts manufacturing in Canada in partnership with carriage-maker Gordon McGregor.
1908: General Motors Company is organized in September, incorporating the Buick Motor Company. Oldsmobile becomes the second company to join General Motors when Olds Motor Works is sold to GM in November 1908. Fisher Body Company is incorporated in July 1908.
1954: American luxury carmaker Packard buys U.S. wagon and carmaker Studebaker, forming the Studebaker-Packard Corporation.
1958: The final Packard vehicle rolls off the production line.
1971: Chrysler buys stake in Japanese automaker Mitsubishi.
1976: French motorcycle manufacturer Citroën buys bankrupt French auto company Peugeot.
1979: Ford buys stake in Japanese carmaker Mazda. Ford increases its ownership stake in Mazda during the 1980s.
1979: French automaker Renault buys a stake in American Motors Corporation.
1987: Ford buys controlling stake in British luxury carmaker Aston Martin.
March 1987: Chrysler buys American Motors Corporation.
December 1989: GM announces it will buy half of Swedish automaker Saab. GM buys the remaining half in 2000.
February 1990: Ford buys British carmaker Jaguar.
1993: Chrysler sells off remaining stake in Mitsubishi.
June 1998: Volkswagen buys Rolls-Royce and Bentley.
November 1998: Chrysler and Daimler Benz announce $38-billion merger.
January 1999: Ford buys Sweden's Volvo.
1999: GM buys controlling stake in Isuzu.
March 1999: Renault and Nissan form alliance, maintaining distinct brands but holding shares in each other's companies.
March 2000: GM buys stake in Italian automaker Fiat.
2000: Ford buys Land Rover from BMW.
March 2000: DaimlerChrysler buys stake in Mitsubishi.
June 2000: DaimlerChrysler buys stake in Hyundai.
2001: General Motors buys failed South Korean automaker Daewoo Motors.
2002: Isuzu buys back most of GM's shares in Isuzu.
June 2006: GM board members reportedly consider offer to form alliance with Renault-Nissan.
September 2006: Published reports say executives from GM and Ford have held merger talks.
February 2007: GM in high-level talks to buy Chrysler Group from DaimlerChrysler, say reports.
May 2007: DaimlerChrysler sells Chrysler Group to Cerberus Capital Management.
June 2008: India's Tata Motors buys Jaguar and Land Rover from Ford.
August 2008: Chrysler, Fiat hold partnership talks, according to reports.
October 2008: Wall Street Journal reports Renault wants to buy or partner with Chrysler.
October 2008: GM, Chrysler hold merger talks.
October 2008: Reports say Ford considering selling its stake in Mazda.
http://www.cbc.ca/canada/story/2008/...tomergers.html
1908: General Motors Company is organized in September, incorporating the Buick Motor Company. Oldsmobile becomes the second company to join General Motors when Olds Motor Works is sold to GM in November 1908. Fisher Body Company is incorporated in July 1908.
1954: American luxury carmaker Packard buys U.S. wagon and carmaker Studebaker, forming the Studebaker-Packard Corporation.
1958: The final Packard vehicle rolls off the production line.
1971: Chrysler buys stake in Japanese automaker Mitsubishi.
1976: French motorcycle manufacturer Citroën buys bankrupt French auto company Peugeot.
1979: Ford buys stake in Japanese carmaker Mazda. Ford increases its ownership stake in Mazda during the 1980s.
1979: French automaker Renault buys a stake in American Motors Corporation.
1987: Ford buys controlling stake in British luxury carmaker Aston Martin.
March 1987: Chrysler buys American Motors Corporation.
December 1989: GM announces it will buy half of Swedish automaker Saab. GM buys the remaining half in 2000.
February 1990: Ford buys British carmaker Jaguar.
1993: Chrysler sells off remaining stake in Mitsubishi.
June 1998: Volkswagen buys Rolls-Royce and Bentley.
November 1998: Chrysler and Daimler Benz announce $38-billion merger.
January 1999: Ford buys Sweden's Volvo.
1999: GM buys controlling stake in Isuzu.
March 1999: Renault and Nissan form alliance, maintaining distinct brands but holding shares in each other's companies.
March 2000: GM buys stake in Italian automaker Fiat.
2000: Ford buys Land Rover from BMW.
March 2000: DaimlerChrysler buys stake in Mitsubishi.
June 2000: DaimlerChrysler buys stake in Hyundai.
2001: General Motors buys failed South Korean automaker Daewoo Motors.
2002: Isuzu buys back most of GM's shares in Isuzu.
June 2006: GM board members reportedly consider offer to form alliance with Renault-Nissan.
September 2006: Published reports say executives from GM and Ford have held merger talks.
February 2007: GM in high-level talks to buy Chrysler Group from DaimlerChrysler, say reports.
May 2007: DaimlerChrysler sells Chrysler Group to Cerberus Capital Management.
June 2008: India's Tata Motors buys Jaguar and Land Rover from Ford.
August 2008: Chrysler, Fiat hold partnership talks, according to reports.
October 2008: Wall Street Journal reports Renault wants to buy or partner with Chrysler.
October 2008: GM, Chrysler hold merger talks.
October 2008: Reports say Ford considering selling its stake in Mazda.
http://www.cbc.ca/canada/story/2008/...tomergers.html
02-20-09, 06:26 PM
#2
Keeper of the light
Thread Starter
iTrader: (17)
Expanding the waters a bit..........
http://news.bbc.co.uk/1/hi/business/4426383.stm
1905
Austin Motor Company formed at Longbridge.
Herbert Austin sets up the Austin Motor Company at a former print works in Longbridge Birmingham.
1922
Austin Seven is launched.
1946
Millionth Austin produced.
1952
Austin and Morris join forces.
The British Motor Corporation is formed out of the merger of Austin and Morris to create a British car giant to rival Ford.
1959
The Mini is launched.
The shape of British car manufacturing changes dramatically when Alec Issigonis invents the Mini. It is the first to combine frontwheel drive and a transversely mounted engine. Minimalist inside it is to become a British icon particularly during the 1960s.
1965
Millionth Mini is produced.
1966
BMC merges with Jaguar to form British Motor Holdings.
1968
BMH and Leyland Motors owner of Rover merge to form British Leyland.
1975
British Leyland is nationalised.
A multibillion£ government cash injection effectively nationalises British Leyland as it struggles through financial turmoil and an industrialrelations crisis during the 1970s. Michael Edwardes is brought in to steer the company forward and it joins forces with Japanese rival Honda.
1986
BL becomes the Rover Group run by Graham Day.
1988
The struggling firm goes back into private hands when it is bought by British Aerospace.
1994
Rover is sold to BMW which invests heavily to try to revive the companys fortunes.
May, 2000
BMW breaks up the business and Rover is sold.
After boardroom upheaval at BMW the business is sold off. The company resists an approach from venture capitalists Alchemy Partners in favour of a group headed by former Rover executive John Towers. Phoenix Venture Holdings buys it for £10 and aims to make a profit within two years. It becomes MG Rover revifving the famous British marque.
October, 2000
The final Mini rolls off the Longbridge production line.
Having sold Land Rover to Ford BMW takes the Mini with it depriving Rover of its more successful component and switching production to Oxford.
2001
MG Rover announces big losses but still an improvement on recent performances.
The new group announces losses of £254m for the first eight months of business. But the losses are less than feared and considerably better than the £780m fullyear loss under BMW in 1999.
2002
The company announces an alliance with Chinese group China Brilliance to help fund investment in new models.
2003
Losses are down car production is down.
Fullyear losses are £77m compared with nearly £800m in 1999. But there is no sign of the profit that its new owners had targeted within two years. Car production is also considerably lower from 145000 in 2002 to 116000.
January, 2004
The bulk of the Longbridge site is sold to raise investment cash.
MG Rover sells all but 20 acres of the 248acre Longbridge site for £42.5m. It rents back the land and reinvests the proceeds in the business.
November, 2004
MG Rover announces plans for a £1bn joint venture with the Shanghai Automotive Industrial Corporation.
March, 2005
Sales continue to plunge as it pays the price for its inability to launch new models.
Hampered by an inability to invest in new models Rover sales continue to fall. Sales in 2004 are below 120000 and the March figure of 12545 is nearly 17 less than the corresponding number a year earlier. The Rover 75 remains its most competitive model amid a sea of models perceived to be staid and outdated.
8 April, 2005
Longbridge looks doomed as MG Rover runs out of money.
As the extent of the crisis becomes more evident DTI officials go to China to try to persuade MG Rover's partner to complete a deal to buy it. It offers a £100m conditional bridging loan but it's not enough to convince the Chinese. Firms that are owed money stop supplying and production halts. The beleagured firm calls in the administrators.
23 July, 2005
Chinese carmaker Nanjing Automotive buys MG Rover.
China's oldest carmaker Nanjing Automotive buys MG Rover pledging to retain "some" vehicle production in the UK. Nanjing says it plans to use the MG marque on any cars it produces in Europe.
17 August, 2005
Rovers accountants are to be investigated.
The UK's accounting watchdog announces it will examine the role of MG Rover's accountants and auditors Deloitte in the period leading up to the car firm's collapse.
17 January, 2006
A committee of MPs announces an inquiry into the governments role.
The Trade and Industry select committee reveals it is to investigate the role the government played in trying to save MG Rover. It says it will examine whether it did too much or too little to try to save the ailing firm focusing on the roles of former Trade and Industry Secretaries Stephen Byers and Patricia Hewitt.
22 February, 2006
Fresh hope for the future of Longbridge as new owner reveals plan to resume car production.
Nanjing Auto renews the lease at Longbridge pledging to renew production of the MG TF sports car in 2007.
10 March, 2006
A report criticises the government over its £6.5m bridging loan.
The National Audit Office says much of the £6.5m the government spent on trying to help MG Rover in its final days was wasted and would not be recovered. However it said many workers had been found new work as a result of the loan and it praised some of the DTI's groundwork.
17 July, 2006
Nanjing confirms sports cars are to be built at Longbridge again.
Nanjing Automobile Corporation pledges a multimillion£ investment in the Longbridge plant to assemble the MG TF. Production is due to start early in 2007 and the cars will go on sale in the second half of the year.
http://news.bbc.co.uk/1/hi/business/4426383.stm
1905
Austin Motor Company formed at Longbridge.
Herbert Austin sets up the Austin Motor Company at a former print works in Longbridge Birmingham.
1922
Austin Seven is launched.
1946
Millionth Austin produced.
1952
Austin and Morris join forces.
The British Motor Corporation is formed out of the merger of Austin and Morris to create a British car giant to rival Ford.
1959
The Mini is launched.
The shape of British car manufacturing changes dramatically when Alec Issigonis invents the Mini. It is the first to combine frontwheel drive and a transversely mounted engine. Minimalist inside it is to become a British icon particularly during the 1960s.
1965
Millionth Mini is produced.
1966
BMC merges with Jaguar to form British Motor Holdings.
1968
BMH and Leyland Motors owner of Rover merge to form British Leyland.
1975
British Leyland is nationalised.
A multibillion£ government cash injection effectively nationalises British Leyland as it struggles through financial turmoil and an industrialrelations crisis during the 1970s. Michael Edwardes is brought in to steer the company forward and it joins forces with Japanese rival Honda.
1986
BL becomes the Rover Group run by Graham Day.
1988
The struggling firm goes back into private hands when it is bought by British Aerospace.
1994
Rover is sold to BMW which invests heavily to try to revive the companys fortunes.
May, 2000
BMW breaks up the business and Rover is sold.
After boardroom upheaval at BMW the business is sold off. The company resists an approach from venture capitalists Alchemy Partners in favour of a group headed by former Rover executive John Towers. Phoenix Venture Holdings buys it for £10 and aims to make a profit within two years. It becomes MG Rover revifving the famous British marque.
October, 2000
The final Mini rolls off the Longbridge production line.
Having sold Land Rover to Ford BMW takes the Mini with it depriving Rover of its more successful component and switching production to Oxford.
2001
MG Rover announces big losses but still an improvement on recent performances.
The new group announces losses of £254m for the first eight months of business. But the losses are less than feared and considerably better than the £780m fullyear loss under BMW in 1999.
2002
The company announces an alliance with Chinese group China Brilliance to help fund investment in new models.
2003
Losses are down car production is down.
Fullyear losses are £77m compared with nearly £800m in 1999. But there is no sign of the profit that its new owners had targeted within two years. Car production is also considerably lower from 145000 in 2002 to 116000.
January, 2004
The bulk of the Longbridge site is sold to raise investment cash.
MG Rover sells all but 20 acres of the 248acre Longbridge site for £42.5m. It rents back the land and reinvests the proceeds in the business.
November, 2004
MG Rover announces plans for a £1bn joint venture with the Shanghai Automotive Industrial Corporation.
March, 2005
Sales continue to plunge as it pays the price for its inability to launch new models.
Hampered by an inability to invest in new models Rover sales continue to fall. Sales in 2004 are below 120000 and the March figure of 12545 is nearly 17 less than the corresponding number a year earlier. The Rover 75 remains its most competitive model amid a sea of models perceived to be staid and outdated.
8 April, 2005
Longbridge looks doomed as MG Rover runs out of money.
As the extent of the crisis becomes more evident DTI officials go to China to try to persuade MG Rover's partner to complete a deal to buy it. It offers a £100m conditional bridging loan but it's not enough to convince the Chinese. Firms that are owed money stop supplying and production halts. The beleagured firm calls in the administrators.
23 July, 2005
Chinese carmaker Nanjing Automotive buys MG Rover.
China's oldest carmaker Nanjing Automotive buys MG Rover pledging to retain "some" vehicle production in the UK. Nanjing says it plans to use the MG marque on any cars it produces in Europe.
17 August, 2005
Rovers accountants are to be investigated.
The UK's accounting watchdog announces it will examine the role of MG Rover's accountants and auditors Deloitte in the period leading up to the car firm's collapse.
17 January, 2006
A committee of MPs announces an inquiry into the governments role.
The Trade and Industry select committee reveals it is to investigate the role the government played in trying to save MG Rover. It says it will examine whether it did too much or too little to try to save the ailing firm focusing on the roles of former Trade and Industry Secretaries Stephen Byers and Patricia Hewitt.
22 February, 2006
Fresh hope for the future of Longbridge as new owner reveals plan to resume car production.
Nanjing Auto renews the lease at Longbridge pledging to renew production of the MG TF sports car in 2007.
10 March, 2006
A report criticises the government over its £6.5m bridging loan.
The National Audit Office says much of the £6.5m the government spent on trying to help MG Rover in its final days was wasted and would not be recovered. However it said many workers had been found new work as a result of the loan and it praised some of the DTI's groundwork.
17 July, 2006
Nanjing confirms sports cars are to be built at Longbridge again.
Nanjing Automobile Corporation pledges a multimillion£ investment in the Longbridge plant to assemble the MG TF. Production is due to start early in 2007 and the cars will go on sale in the second half of the year.
02-22-09, 01:30 PM
#4
Lexus Fanatic
A good list, O.L.T. (and I'm not knocking it), but, of course, it is only the tip of the iceberg. There have been thousands of mergers and buyouts during automotive history.
On the above list, though, there is one minor error. The 1998 VW "buyout" of RR and Bentley actually involved a VERY complex deal with BMW (I never totally understood it myself) whereby VW and BMW criss-crossed periodic cross-ownership of the two British firms. That explained how Rolls-Royce products started getting BMW-designed engines.
On the above list, though, there is one minor error. The 1998 VW "buyout" of RR and Bentley actually involved a VERY complex deal with BMW (I never totally understood it myself) whereby VW and BMW criss-crossed periodic cross-ownership of the two British firms. That explained how Rolls-Royce products started getting BMW-designed engines.
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