TEN Stock Recent News

Perfect addition to merger arb basket. Some could be recut or break.

Auto parts manufacturer Tenneco Inc. ( TEN , Financial) announced on Feb. 24 that it has entered into an acquisition agreement with funds managed by affiliates of private equity and asset management firm Apollo Global Management Inc. ( APO , Financial). The all-cash transaction was given an enterprise valuation of approximately $7.1 billion, including debt.

Tenneco (TEN) incurs a loss in first quarter 2022. It registers a fall in EBITDA across all segments.

Tenneco (TEN) delivered earnings and revenue surprises of -116.42% and 3.87%, respectively, for the quarter ended March 2022. Do the numbers hold clues to what lies ahead for the stock?