Delphi’s CEO has said that the company could spend up to US$3bn this year on a large acquisition to bolster its business.
The automotive supplier industry has seen a wave of consolidations recently as major suppliers reposition for major challenges and growth ahead – especially in advanced technologies involving driver assistance and connectivity.
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Delphi CEO Kevin Clark told Reuters in an interview that the company could spend US$1bn-US$3bn this year on an acquisition.
He also said the probability of such a large acquisition related to its hardware business was “greater than 50-50”.
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