|Bid||13.45 x 2200|
|Ask||13.46 x 1100|
|Day's Range||13.38 - 14.85|
|52 Week Range||7.62 - 37.27|
|Beta (5Y Monthly)||2.37|
|PE Ratio (TTM)||N/A|
|Forward Dividend & Yield||1.00 (11.36%)|
|1y Target Est||N/A|
(Bloomberg) -- Apollo Global Management Inc. has offered to buy Tenneco Inc.’s powertrain business for $4.3 billion, according to people familiar with the matter.The private equity firm’s bid, described by people who asked not to be identified because the matter isn’t public, represents a significant sum relative to the $7 billion enterprise value of the auto-parts maker. The Lake Forest, Illinois-based company’s stock had slumped 52% this year through Monday’s close as earnings have slumped.Tenneco shares rose 7.8% to close at $14.28 on Tuesday, the highest since Nov. 12, after the Wall Street Journal first reported Apollo’s bid. The Journal said Tenneco is likely to reject Apollo’s offer because it includes several adjustments and doesn’t assume pension and other liabilities linked to the powertrain unit.Apollo declined to comment. A spokesman for Tenneco didn’t immediately respond to requests for comment.Tenneco has cut its forecast for revenue three times this year and its projection for adjusted Ebitda twice. The maker of shocks, struts and mufflers has been struggling to follow through with plans to separate its powertrain unit from its aftermarket and ride-performance business, a spinoff the company announced when it acquired Carl Icahn-owned Federal-Mogul in April 2018 for $5.4 billion.(Updates with enterprise value in second paragraph and closing share price in third paragraph)To contact the reporters on this story: Siddharth Philip in London at email@example.com;Kiel Porter in Chicago at firstname.lastname@example.orgTo contact the editors responsible for this story: Anthony Palazzo at email@example.com, ;Liana Baker at firstname.lastname@example.org, Craig Trudell, Michael HythaFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
Tenneco (TEN) forecasts a decline in light-vehicle production and a slight deceleration in commercial vehicle markets, which are likely to negatively affect the upcoming results.
Tenneco (TEN) delivered earnings and revenue surprises of 26.80% and 0.91%, respectively, for the quarter ended September 2019. Do the numbers hold clues to what lies ahead for the stock?
Tenneco (TEN) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.
Tenneco (TEN) delivered earnings and revenue surprises of 29.03% and 1.07%, respectively, for the quarter ended June 2019. Do the numbers hold clues to what lies ahead for the stock?
Tenneco (TEN) possesses the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.
Tenneco TEN , which supplies emissions control, suspension, and powertrain components and modules to the global automotive industry as well as offering aftermarket parts, reported disappointing first-quarter diluted earnings per share before special items of $0.
Tenneco (TEN) delivered earnings and revenue surprises of -44.68% and 0.15%, respectively, for the quarter ended March 2019. Do the numbers hold clues to what lies ahead for the stock?
In first-quarter 2019, rise in employment rate and sturdy consumer confidence are likely to boost auto demand. But rising interest rates, auto recall and higher vehicle prices are concerns.