Visteon Corp. (VC) Wednesday announced a tender offer to purchase 32.0 million shares of Halla Climate Control Corp. (HCC) for an all cash transaction of 913 billion south Korean wons. Visteon will offer 28,500 south Korean wons per share, representing a premium of approximately 15 percent to HCC's share trading price on the Korean exchange on July 4.
Visteon currently holds a 70 percent ownership stake in HCC. The offer is conditioned on shareholders tendering a minimum of 26.7 million shares, for a total Visteon ownership of at least 95 percent.
The transaction will strengthen Visteon's climate business through a more efficient operating structure and demonstrates the company's commitment to a long-term, global presence in the automotive climate control sector.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.