Magneti Marelli
On October 22, 2018, Calsonic Kansei announced that it would be merged with components manufacturer Magneti Marelli from Fiat Chrysler Automobiles (FCA), acquired by the parent fund KKR for $7.1 billion (€6.2 billion). The news was mostly wrongly reported by the press as Calsonic Kansei purchasing Magneti Marelli, while the transaction happened between KKR and FCA. The company's previous bid of nearly $5.9 billion was deemed too low by FCA. By May 2019, Calsonic Kansei and Magneti Marelli united under one brand name, Marelli, as part of its strategy to compete on a global scale.