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CMI News Highlights
- CMI's 30 day story count now stands at 93.
- Over the past 22 days, the trend for CMI's stories per day has been choppy and unclear. It has oscillated between 1 and 15.
- The most mentioned tickers in articles about CMI are MTOR, ABB and AIMC.
Latest CMI News From Around the Web
Below are the latest news stories about Cummins Inc that investors may wish to consider to help them evaluate CMI as an investment opportunity.
At a meeting this week with analysts and shareholders, the leadership team at Cummins Inc. said decarbonization is a growth opportunity for the company.
Power generation products manufacturer Cummins Inc. (NYSE: CMI) recently revealed that it has entered into a definitive agreement to acquire automobile components producer Meritor, Inc. (NYSE: MTOR) for $3.7 billion. Following the news, shares of the company declined 1.8% to close at $214.09 on Tuesday. Under the terms of the deal, Cummins will shell out $36.50 in cash per Meritor share for a total transaction value of roughly $3.7 billion. Cummins expects to finance the deal with a combination of cash and debt. Strategic Impact Cummins’ acquisition of Meritor will make it one of the rare companies to provide integrated powertrain solutions across combustion and electric power applications.
Cummins to buy Meritor for $2.6 billion in electric parts push. The demand for electric vehicles has pushed automakers to unveil billion dollar plans to electrify gasoline models or introduce electric cars and trucks.
Pune news: Cummins in India designs, manufactures, distributes and services diesel and alternative fuel engines as well as related comPune ponents and technology.
Gainers Imperial Petroleum Inc. (NASDAQ: IMPP ) jumped 63.1% to close at $0.80 on Tuesday after declining around 7% on Friday. Indonesia Energy Corporation Limited (NYSE: INDO ) shares surged 44.1% to close at $6.47 on Tuesday. Meritor, Inc. (NYSE: MTOR ) shares climbed 43.8% to settle at $35.47. Cummins Inc (NYSE: CMI ) agreed to acquire electric powertrain solutions provider Meritor for about $3.7 billion, including assumed debt and net of acquired cash. China Natural Resources, Inc. (NASDAQ: CHNR ) surged 27.4% to close at $0.7901. Paltalk, Inc. (NASDAQ: PALT ) rose 26.1% to close at $3.96. Ocugen, Inc. (NASDAQ: OCGN ) gained 22.3% to close at $4.23. The FDA has lifted its clinical hold on Ocugens investigational new drug application seeking approval to conduct testing of the COVID-1...
Bring it on, says Thomas Linebarger, Cummins'' chief executive for the past decade.
Meritor, Inc. -- Moody's places Meritor, Inc.'s ratings under review for upgrade following announced acquisition by Cummins, Inc.
The Speculative Grade Liquidity Rating is unchanged at SGL-2.The rating action follows Cummins, Inc.'s (Cummins) announcement to acquire Meritor for a total transaction value of approximately $3.7 billion, including assumed debt and net of acquired cash. The transaction is subject to customary closing conditions, receipt of applicable regulatory approvals and Meritor shareholder approval and targeted to close by the end of 2022.Cummins' plan for Meritor's existing debt is yet to be determined, however Moody's believes that all of the outstanding debt of Meritor will be repaid at transaction close, at which time Moody's would withdraw Meritor's ratings.The review for upgrade reflects Moody's expectation that if the acquisition is completed, Meritor will become a key contributor to a lar...
COLUMBUS, Ind., February 23, 2022--At a meeting with analysts and shareholders today, members of the leadership team of Cummins Inc. (NYSE: CMI), a global power leader, shared the Company’s plans to generate profitable growth driven through leadership in the design, manufacture, and support of powertrain technology across a number of fuel types and power sources.
Cummins, Inc. -- Moody's says Cummins' acquisition of Meritor is credit negative but does not affect ratings
Announcement: Moody's says Cummins' acquisition of Meritor is credit negative but does not affect ratingsGlobal Credit Research - 23 Feb 2022New York, February 23, 2022 -- Moody's Investors Service ("Moody"s) said that Cummins, Inc.'s acquisition of Meritor, Inc., a leading supplier of axles and brakes for commercial vehicles, including axles for electric powertrain solutions, is credit negative. For any credit ratings referenced in this publication, please see the ratings tab on the issuer/entity page on www.moodys.com for the most updated credit rating action information and rating history.
To drive powertrain technology and give a push to electric and hybrid vehicle parts, Cummins (CMI) is set to acquire Meritor (MTOR).