Auto Sector

Nidec to buy Emerson Electrics for expanding in US

Emerson-ElectricThe world's biggest disk-drive motor maker, Nidec Corp has said that it will be buying Emerson Electric Co. This is being done so that Nidec is able to expand its home appliances and automobile related business in US.

Money for the deal which will be between 60 billion yen and 70 billion yen will be paid in form of cash September 30 is scheduled to be the deadline date for finishing the deal.

GM's plans to sell preferred stock with IPO postponed

General-MotorsPlans of US automaker, General Motors Co to sell preferred stocks along with its IPO of common shares has been postponed in the sense that it will now be using the proceeds from the preferred stocks and will not stakes in the form of common offerings.

This was revealed in the draft filed by the company with respect to its offering. The information was given by two people who are close to the development and did not wish to be named.

General Motors all set to return to the stock market

General Motors all set to return to the stock marketThe famous US car maker General Motors is expected to unveil its detailed flotation plans in this week. General Motors was rescued from a financial collapse in last summer by the Obama administration but now it has seen a handsome amount of profit and is ready to bounce back to the stock market.

Vauxhall Announces Life-Long Warranty for its First Owners

Vauxhall Announces Life-Long Warranty for its First OwnersVauxhall's has decided to offer a life-long warranty on all its latest cars. To let everybody know about this new proposal, the manufacturer has decided to flash an advertisement on TV and for that it has chosen a primetime slot on TV. The commercial will be aired from today onwards. The ad show Bill Nighy saying the words, "A warranty could now last a lifetime".

GM Planning Enlisting Eight More Banks as Bookrunners

General-MotorsGeneral Motors Co. is probably under the process of planning of enlisting eight more banks as joint bookrunners following the initial regulatory filing for its stock offers, as informed by someone familiar with the matter.

It is expected that the firm will file a prospectus with the U.S. Securities and Exchange Commission in the early parts of the approaching week.

Boss of General Motors is going to step down

Boss of General Motors is going to step downThe boss or the chief executive of the US firm General Motors has declared the plans about his resignation from the post. The current chief executive of General Motors, Edward Whitacre will step down from his post in the coming September.

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