What happened Shares of Tenneco (NYSE: TEN), one of the world's leading designers, manufacturers of aftermarket, clean air, powertrain products and ride performance products for light vehicles, commercial trucks, and other vehicles, jumped by as much as 13% Friday after acquisition news shook up the auto component supply industry. The stock closed the day up 10.5%. So what The big splash of the day was the announcement that Autokiniton Global Group had agreed to acquire Tower International (NYSE: TOWR) for $31 per share in cash, roughly a 70% premium to its Thursday closing price. The automotive component supplier space faces multiple headwinds, including a slowing North American vehicle market, as well as uncertainty about tariffs. But these conditions make mergers and acquisitions more attractive, as companies seek cost synergies and larger scale to help them counter the drags on their profits. In fact, word of Tower's pending buyout not only sent Tenneco's stock higher, it lifted Visteon (NASDAQ: VC) and American Axle & Manufacturing (NYSE: AXL) by nearly 5% Friday as well. Image source: Getty Images. Now what While speculation pushed auto supplier stocks higher, investors looking at Tenneco would be wise to focus on what the company can control. Due to the weak market environment, management decided to push back its planned DRiV spinoff to mid-2020, and focus instead on stabilizing its business processes and systems to solidify its margins and cash flow, drive cost synergies, and strengthen its balance sheet. Executing those strategies and then successfully spinning off DRiV will be important for the company's performance in the near term -- but today's 10% pop will surely still welcomed by shareholders who have endured the stock's 64% year-to-date decline. 10 stocks we like better than TennecoWhen investing geniuses David and Tom Gardner have a stock tip, it can pay to listen. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has quadrupled the market.* David and Tom just revealed what they believe are the ten best stocks for investors to buy right now... and Tenneco wasn't one of them! That's right -- they think these 10 stocks are even better buys. See the 10 stocks *Stock Advisor returns as of June 1, 2019 Daniel Miller has no position in any of the stocks mentioned. The Motley Fool recommends Tenneco. The Motley Fool has a disclosure policy.Source