Alfa Gomma Is Exactly the Type of Asset That Michelin Could Be Interested in -- Market Talk

Dow Jones12-16

1143 GMT - Michelin is reportedly interested in Italian hosing business Alfa Gomma, an asset that is in theory exactly what Michelin may be after, Bernstein analysts write. Bernstein expects that the French company will return 1.5 billion euros to shareholders in both 2026 and 2027, while allocating over 600 million euros a year to mergers and acquisitions. As long as any deals are made within that 600 million euros a year while still allowing for meaningful cash returns, the market should respond positively. "If this asset and/or others are larger and meaningfully impair our cash return assumptions, then there may be more fuel for the bear case." (dominic.chopping@wsj.com)

(END) Dow Jones Newswires

December 16, 2025 06:44 ET (11:44 GMT)

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