Cummins Stock News

The deal will expand Cummins'' range of engine offerings and add axle and brake technology to its product line.

MILWAUKEE, Feb. 22, 2022 /PRNewswire/ -- Ademi LLP is investigating Meritor (NYSE: MTOR) for possible breaches of fiduciary duty and other violations of law in its transaction with Cummins. Click here to learn how to join the action: https://www.ademilaw.com/case/meritor-inc or call Guri

The deal to purchase Meritor is valued at $3.7 billion.

Select auto parts stocks gained in early trading on Tuesday following a blockbuster merger announcement between Cummins and Meritor. Read more.

Meritor, Inc. (NYSE: MTOR), whose shares rose by 45%, and Cummins Inc. (NYSE: CMI) recently announced they'd executed a definitive purchase agreement whereby Meritor, a leader of the electric power

Cummins Inc., which is rapidly transforming from solely a leading maker of diesel engines into electric powertrains and zero-emissions technologies, said Tuesday it will pay $3.7 billion in cash to ac

Shares of Meritor Inc., a maker of axle, braking and electric powertrain components, were headed toward a 24-year high Tuesday, after the company announced a deal to be acquired by diesel truck engine

Meritor MTOR +43% Cummins acquires Meritor with eyes on electric power applications.Digital World Acquisition DWAC +17% Trump''s TRUTH Social platform hits Apple''s App

A huge deal was announced in the auto industry on Monday with Cummins (CMI) striking a deal to acquire Meritor (MTPOR). Read more.

Commercial truck and industrial equipment maker Meritor Inc. announced an agreement to be acquired by Cummins Inc. in a cash deal valued $3.7 billion, including debt and acquired cash. Under terms of the deal, Cummins will pay $36.50 for each Meritor share outstanding, which represents a 48% premium to Friday''s stock closing price of $24.67, and the highest price the stock traded at since May 1998. Meritor''s stock is currently halted for news, while Cummins stock fell 2.1% in premarket trading. The buyout bid price implies a market capitalization for Meritor of $2.58 billion. "The integration of Meritor''s people, technology and capabilities will position Cummins as one of the few companies able to provide integrated powertrain solutions across combustion and electric power applications," the companies said in a statement. "This is the right time to pursue this combination as demand for decarbonized solutions accelerates." Shares of Meritor have dropped 14.7% over the past three months and Cummins stock has lost 4.4%, while the S&P 500 has declined 7.1%.

Commercial truck and industrial equipment maker Meritor Inc. undefined announced an agreement to be acquired by Cummins Inc. undefined in a cash deal valued

Cummins Inc. with ticker code (CMI) have now 18 analysts covering the stock with the consensus suggesting a rating of ''Buy''. The range between the high target price and low target price is between 304 and 244 and has a mean target at 272.1. With the stocks previous close at 218.69 this is indicating there is a potential upside of 24.4%. The 50 day moving average now sits at 222.97 and the 200 day MA is 234.5. The company has a market cap of $31,056m. Visit the company website at: https://www.cummins.com [stock_market_widget type="chart" template="basic" color="green" assets=CMI" range="6mo" interval="1d" axes="true" cursor="true" api="yf"] The potential market cap would be $38,641m based on the market concensus. Cummins Inc. designs, manufactures, distributes, and services diesel and natural gas engines, electric and hybrid powertrains, and related components worldwide. It operates through five segments: Engine, Distribution, Components, Power Systems, and New Power. The company offers diesel and natural gas-powered engines under the Cummins and other customer brands for the heavy and medium-duty truck, bus, recreational vehicle, light-duty automotive, construction, mining, marine, rail, oil and gas, defense, and agricultural markets; and offers new parts and services, as well as remanufactured parts and engines.

Cummins Inc. (NYSE: CMI) is buying Meritor, Inc. (NYSE: MTOR) in a $3.7 billion deal. These are the details.

The deal will expand Cummins' range of engine offerings and add axle and brake technology to its product line.

Cummins Inc (NYSE: CMI) has agreed to acquire electric powertrain solutions provider Meritor Inc (NYSE: MTOR) for about $3.7 billion, including assumed debt and net of acquired cash. The company w