Ross Reported Near Deal to Acquire Another Piece of Lear

Wall Street reacts positively to indications that a joint-venture agreement is imminent between Lear Corp. and billionaire Wilbur Ross.

In an SEC filing today, Lear reveals it has a non-binding agreement in principle to make its North American interiors business part of a new, Ross-built entity called International Automotive Components Group North America LLC.

In a research note published today, Brett Hoselton of KeyBanc Capital Markets writes: “While the deal has not ...