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Filing Flows › Aptiv (APTV) › Takeover & LBO

Is Aptiv (APTV) a takeover target?

A leveraged buyout at today's price plus 30% ($52.12 a share) would return about 13% a year to a private-equity buyer over 5 years; the most a buyer could pay for a 20% return is $39.86 a share (−1% against today's $40.09). Historically 2.7% of companies with its figures were bought within a year (0.53× the average).

Share price$40.09
Offer at +30%$52.12
Buyer's IRR13%
Most for 20%$39.86
EV / EBITDA6.0×
Buyout debt4.5× EBITDA

The buyout, step by step

EntryAmountHow
Offer price a share$52.12today's $40.09 plus 30%
× shares206.3 million
= Equity value$10.8B
+ Debt refinanced$7.7B
− Cash$670M
= Enterprise value$17.8B6.9× EBITDA of $2.6B
Fees$355M2% of the price
New debt$11.5B4.5× EBITDA at 7.65% a year; the limit that binds: 65% of the price
Buyer's own money$6.6B36% of the cost

5 years under the buyer

Aptiv: buyout debt left, year by yearAptiv: buyout debt left, year by year$11.5BEntry$10.7BYear 1$9.8BYear 2$8.7BYear 3$7.6BYear 4$6.3BYear 5
Free cash flow after interest and tax repays the debt; a shortfall is borrowed.
YearRevenueEBITDAInterestFree cash flowDebt left
Year 1$17.4B$2.7B$883M$824M$10.7B
Year 2$18.1B$2.8B$820M$931M$9.8B
Year 3$18.7B$2.9B$749M$1.0B$8.7B
Year 4$19.3B$3.0B$669M$1.2B$7.6B
Year 5$19.9B$3.0B$581M$1.3B$6.3B

The exit and the buyer's return

ExitAmount
Exit multiple6.0× EBITDAtoday's trading multiple, before any premium
Enterprise value at exit$18.2B
− Debt left$6.3B
= Buyer's equity$11.9B
Money multiple1.81×on $6.6B put in
Buyer's yearly return (IRR)12.5%

Price against return

What the buyer makes at other premiums over today's $40.09; the IRR reaches 20% at $39.86 a share.

PremiumPrice a shareBuyer's IRR
10%$44.1017.4%
20%$48.1114.9%
30%$52.1212.5%
40%$56.1310.2%
50%$60.147.8%

The figures used

FigureAmount
Revenue, last 12 months$16.7B
EBITDA, last 12 months$2.6B15.3% of revenue
Depreciation and amortization$1.1B
Capital spending$694M
Debt$7.7B
Cash$670M
Share price$40.09on Nov 6, 2026

Fixed rules, the same as the interactive view's starting point: the shares are bought at today's price plus 30%, the company's debt is refinanced and fees take 2%. New debt is the least of 5.5× EBITDA, 65% of the price and the amount whose interest EBITDA covers 2 times, at 7.65% a year (SOFR 3.89% plus the high-yield B spread 3.26% plus 0.5%, rates of Oct 15, 2026). Revenue grows 4.1% in the first year — the company's own rate, held between −3% and +8% — fading to 3% by year 5; the EBITDA margin, depreciation and capital spending stay at today's share of revenue; working capital takes 10% of each year's added revenue; tax is 27% of profit after interest. Every dollar of free cash flow repays debt. After 5 years the buyer sells at today's multiple of EBITDA.

What a takeover could cost

Takeovers on record paid a median premium of 32.5% over the share price before the deal (the middle half 20% to 51.8%), according to the 1,437 merger proxies and tender-offer responses on EDGAR that state a premium. At the median, Aptiv would cost about $53.13 a share, $11.0B for all its shares.

Premium%Price a shareAll shares
Low end (a quarter of deals paid less)20%$48.11$9.9B
Median32.5%$53.13$11.0B
High end (a quarter paid more)51.8%$60.86$12.6B

The odds, from history

Historically 2.7% of companies with its figures were bought within a year (0.53× the average). Its figures put it in decile 2 of 10 (10 = the most likely to be bought). The odds come from a model of every merger proxy, tender-offer response and going-private statement filed on EDGAR since 2011, set against each company's size, margins, debt, cash flow and growth the year before.

Aptiv's latest quarter

Aptiv, Q3 2026: revenue $3.2B (+2% year over year), operating margin 8.8%, net earnings $194M, operating cash flow $320M. The chart follows the revenue to costs, profit and cash.

Questions

Is Aptiv being acquired?

No headline, 8-K or 13D about a sale is on file in the last year.

Could private equity buy Aptiv?

A leveraged buyout at today's price plus 30% ($52.12 a share) would return about 13% a year to a private-equity buyer over 5 years; the most a buyer could pay for a 20% return is $39.86 a share (−1% against today's $40.09).

What would a takeover of Aptiv cost?

Takeovers on record paid a median premium of 32.5% over the share price before the deal (the middle half 20% to 51.8%), according to the 1,437 merger proxies and tender-offer responses on EDGAR that state a premium. At the median, Aptiv would cost about $53.13 a share, $11.0B for all its shares.

Open the interactive view →

Updated Nov 8, 2026. Read automatically from SEC filings and public data; errors are possible. Not investment advice.