Visteon (VC) In the Middle of a South Korean Takeover Battle... May Find Itself the Target

August 7, 2012 3:10 PM EDT
Shares of Visteon Corp. (NYSE: VC) are on the move Tuesday as takeover speculation surrounds the name.

The story goes like this: Visteon owns 70 percent of Halla Climate Control Corp... Visteon wants to buy the rest of Halla it doesn't own... Mando reached a deal to buy all or part of the South Korean National Pension Service's 8.1 percent stake in Halla... Mando may look to acquire Visteon's stake in Halla or acquire Visteon entirely.

Shares of VC are up 16 percent Tuesday, but off the days highs (+24%).

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