Filing Flows › Cooper-Standard Holdings (CPS) › Takeover & LBO
Is Cooper-Standard Holdings (CPS) a takeover target?
A leveraged buyout at today's price plus 30% ($26.09 a share) would return about 3% a year to a private-equity buyer over 5 years; the most a buyer could pay for a 20% return is $3.06 a share (−85% against today's $20.07). It already carries 7.3× EBITDA in net debt (the model flags anything over 6×), so a buyer could add little debt of its own.
The buyout, step by step
| Entry | Amount | How |
|---|---|---|
| Offer price a share | $26.09 | today's $20.07 plus 30% |
| × shares | 18.1 million | |
| = Equity value | $471M | |
| + Debt refinanced | $1.1B | |
| − Cash | $112M | |
| + Other claims | −$8.9M | preferred stock, minority interests |
| = Enterprise value | $1.5B | 10.5× EBITDA of $142M |
| Fees | $29.9M | 2% of the price |
| New debt | $783M | 5.5× EBITDA at 7.65% a year; the limit that binds: 5.5× EBITDA |
| Buyer's own money | $743M | 49% of the cost |
5 years under the buyer
| Year | Revenue | EBITDA | Interest | Free cash flow | Debt left |
|---|---|---|---|---|---|
| Year 1 | $2.8B | $145M | $59.9M | $12.5M | $770M |
| Year 2 | $2.9B | $149M | $58.9M | $14.6M | $756M |
| Year 3 | $3.0B | $153M | $57.8M | $17.0M | $738M |
| Year 4 | $3.1B | $157M | $56.5M | $19.8M | $719M |
| Year 5 | $3.2B | $162M | $55.0M | $23.0M | $696M |
The exit and the buyer's return
| Exit | Amount | |
|---|---|---|
| Exit multiple | 9.7× EBITDA | today's trading multiple, before any premium |
| Enterprise value at exit | $1.6B | |
| − Debt left | $696M | |
| = Buyer's equity | $881M | |
| Money multiple | 1.18× | on $743M put in |
| Buyer's yearly return (IRR) | 3.5% |
Price against return
What the buyer makes at other premiums over today's $20.07; the IRR reaches 20% at $3.06 a share.
| Premium | Price a share | Buyer's IRR |
|---|---|---|
| 10% | $22.08 | 5.6% |
| 20% | $24.08 | 4.5% |
| 30% | $26.09 | 3.5% |
| 40% | $28.10 | 2.5% |
| 50% | $30.11 | 1.5% |
The figures used
| Figure | Amount | |
|---|---|---|
| Revenue, last 12 months | $2.8B | |
| EBITDA, last 12 months | $142M | 5.1% of revenue |
| Depreciation and amortization | $94.4M | |
| Capital spending | $65.5M | |
| Debt | $1.1B | |
| Cash | $112M | |
| Share price | $20.07 | on Oct 30, 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 2.2% 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 21% 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, Cooper-Standard Holdings would cost about $26.59 a share, $480M for all its shares.
| Premium | % | Price a share | All shares |
|---|---|---|---|
| Low end (a quarter of deals paid less) | 20% | $24.08 | $435M |
| Median | 32.5% | $26.59 | $480M |
| High end (a quarter paid more) | 51.8% | $30.47 | $550M |
Cooper-Standard Holdings' latest quarter
Cooper-Standard Holdings, Q3 2026: revenue $709M (+2% year over year), operating margin 1.5%, net loss $20.9M, operating cash flow $5.2M. The chart follows the revenue to costs, profit and cash.
Questions
Is Cooper-Standard Holdings being acquired?
No headline, 8-K or 13D about a sale is on file in the last year.
Could private equity buy Cooper-Standard Holdings?
A leveraged buyout at today's price plus 30% ($26.09 a share) would return about 3% a year to a private-equity buyer over 5 years; the most a buyer could pay for a 20% return is $3.06 a share (−85% against today's $20.07). It already carries 7.3× EBITDA in net debt (the model flags anything over 6×), so a buyer could add little debt of its own.
What would a takeover of Cooper-Standard Holdings 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, Cooper-Standard Holdings would cost about $26.59 a share, $480M for all its shares.
Updated Nov 8, 2026. Read automatically from SEC filings and public data; errors are possible. Not investment advice.