Breakingviews - KKR throws autos shareholders into a spin
KKR’s $7.1 billion splurge on a Fiat Chrysler-owned supplier is sending auto industry valuations into a spin. The buyout group is paying 16 times next year's earnings for Magneti Marelli, which will be merged with KKR portfolio company Calsonic Kansei. That's double what publicly traded car-parts peers are worth, according to Refinitiv data. Meanwhile, shares of marquee manufacturers trade at an even bigger discount.