Filing Flows

Filing Flows › Ford Motor (F) › Takeover & LBO

Is Ford Motor (F) a takeover target?

A leveraged buyout at today's price plus 30% ($16.29 a share) would return a loss of all the money the buyer puts in to a private-equity buyer over 5 years; no price, however low, gets a buyer to 20%. Historically 3.0% of companies with its figures were bought within a year (0.6× the average).

Share price$12.53
Offer at +30%$16.29
Buyer's IRR−100%
EV / EBITDA1.9×
Buyout debt2.4× EBITDA

The buyout, step by step

EntryAmountHow
Offer price a share$16.29today's $12.53 plus 30%
× shares4,076.0 million
= Equity value$66.4B
+ Debt refinanced$0
− Cash$34.1B
+ Other claims$37.0Mpreferred stock, minority interests
= Enterprise value$32.3B3.7× EBITDA of $8.9B
Fees$646M2% of the price
New debt$21.0B2.4× EBITDA at 7.65% a year; the limit that binds: 65% of the price
Buyer's own money$12.0B36% of the cost

5 years under the buyer

Ford Motor: buyout debt left, year by yearFord Motor: buyout debt left, year by year$21.0BEntry$23.6BYear 1$26.3BYear 2$29.5BYear 3$33.1BYear 4$37.2BYear 5
Free cash flow after interest and tax repays the debt; a shortfall is borrowed.
YearRevenueEBITDAInterestFree cash flowDebt left
Year 1$184.4B$8.7B$1.6B−$2.6B$23.6B
Year 2$183.8B$8.7B$1.8B−$2.8B$26.3B
Year 3$185.3B$8.8B$2.0B−$3.1B$29.5B
Year 4$188.9B$8.9B$2.3B−$3.6B$33.1B
Year 5$194.5B$9.2B$2.5B−$4.1B$37.2B

The exit and the buyer's return

ExitAmount
Exit multiple1.9× EBITDAtoday's trading multiple, before any premium
Enterprise value at exit$17.7B
− Debt left$37.2B
= Buyer's equity−$19.5B
Money multiple-1.63×on $12.0B put in
Buyer's yearly return (IRR)−100.0%

Price against return

What the buyer makes at other premiums over today's $12.53.

PremiumPrice a shareBuyer's IRR
10%$13.78−100.0%
20%$15.04−100.0%
30%$16.29−100.0%
40%$17.54−100.0%
50%$18.79−100.0%

The figures used

FigureAmount
Revenue, last 12 months$187.0B
EBITDA, last 12 months$8.9B4.7% of revenue
Depreciation and amortization$16.0B
Capital spending$9.8B
Debt$0
Cash$34.1B
Share price$12.53on 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 -1.4% 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, Ford Motor would cost about $16.60 a share, $67.7B for all its shares.

Premium%Price a shareAll shares
Low end (a quarter of deals paid less)20%$15.04$61.3B
Median32.5%$16.60$67.7B
High end (a quarter paid more)51.8%$19.02$77.5B

The odds, from history

Historically 3.0% of companies with its figures were bought within a year (0.6× 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.

Ford Motor's latest quarter

Ford Motor, Q3 2026: revenue $49.5B (-2% year over year), operating margin 2.9%, net earnings $2.0B, operating cash flow $5.4B. The chart follows the revenue to costs, profit and cash.

Questions

Is Ford Motor being acquired?

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

Could private equity buy Ford Motor?

A leveraged buyout at today's price plus 30% ($16.29 a share) would return a loss of all the money the buyer puts in to a private-equity buyer over 5 years; no price, however low, gets a buyer to 20%.

What would a takeover of Ford Motor 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, Ford Motor would cost about $16.60 a share, $67.7B 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.