WatchLinamar Corp bids 116 billion for French auto parts maker Montupet in

GUELPH, Ont. — One of Canada’s largest autoparts companies is making a play for French counterpart Montupet SA in a friendly takeover offer valued at $1.16 billion.Linamar Corp. of Guelph, Ont. says the acquisition would be a significant step in its strategy of becoming a global leader in making aluminum components for the automotive sector.Montupet designs and manufactures complex aluminum castings, with a presence in several European countries, North America and Asia.Canada’s auto industry could lose 20,000 jobs because of TPP trade deal, union saysThese analysts aren’t worried about Canadian auto parts makersHow Volkswagen’s Dieselgate has made the auto sector’s outlook smoggyLinamar is a diversified manufacture of precision metal components and systems, with particular expertise in aluminum components used in engines, transmissions and other sub-systems.It is offering 71.53 euros in cash for each Montupet share, or about $107.30, which is 15.5 per cent above the pre-announcement market price.Linamar would also assume Montupet debt valued at 63 million euros or $94.5 million.The Montupet board of directors and shareholders who own 36.6 per cent of its shares are supporting the bid, which requires regulatory approvals and will be open to other shareholders until early December. read more