- July 23, 2021
- Posted by: Stratford Team
- Category: Business
– Veoneer’s complementary products and capabilities strengthen and broaden Magna’s ADAS portfolio and industry position
– Transaction adds significant engineering and software expertise, including in sensor perception and drive policy software
– Enhances Magna’s ADAS systems capabilities and feature functionality
AURORA, Ontario and STOCKHOLM, July 23, 2021 /PRNewswire/ — Magna International Inc. (TSX: MG; NYSE: MGA) and Veoneer, Inc. (NYSE: VNE and SSE: VNE SDB) today announced that they have entered into a definitive merger agreement under which Magna will acquire Veoneer, a leader in automotive safety technology. Pursuant to the agreement, Magna will acquire all of the issued and outstanding shares of Veoneer for $ 31.25 per share in cash, representing a total value of $ 3.8 billion, and an enterprise value of $ 3.3 billion, inclusive of Veoneer’s cash, net of debt and other debt-like items as of March 31, 2021.
The acquisition builds on Magna’s…
