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Magna to Acquire Veoneer, Positioning Magna's ADAS Business


ABOUT MAGNA
Magna is more than one of the world’s largest suppliers in the automotive space. We are a mobility technology company with a global, entrepreneurial-minded team of 158,000 employees and an organizational structure designed to innovate like a startup. With 60+ years of expertise, and a systems approach to design, engineering and manufacturing that touches nearly every aspect of the vehicle, we are positioned to support advancing mobility in a transforming industry. Our global network includes 347 manufacturing operations and 84 product development, engineering and sales centres spanning 28 countries.
For further information about Magna [(NYSE: MGA; TSX: MG)], please visit www.magna.com or follow us on Twitter @MagnaInt. ....

United States , Tracy Fuerst , Louis Tonelli , Swamy Kotagiri , Jan Carlson , York Stock Exchange , Morgan Stanley , Sidley Austin , Veoneer Investor Relations Department , Rothschild Co , Magna International Inc , Meagher Flom , Veoneer Inc , Exchange Commission , Delaware Corporation Acquisition Sub , Corporate Communications , North America , Vice President , Investor Relations , Potential Risks Related , Applicable Forward Looking , Supplier Related , Annual Information Form , United States Securities , Annual Information , New York Stock Exchange ,

Magna International Inc.; Veoneer, Inc.: Magna to Acquire Veoneer, Positioning Magna's ADAS Business as a Global Leader in a Fast-Growing Industry


Magna International Inc.; Veoneer, Inc.: Magna to Acquire Veoneer, Positioning Magna s ADAS Business as a Global Leader in a Fast-Growing Industry
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, Sweden, July 22, 2021 (GLOBE NEWSWIRE) Magna International Inc. (TSX: MG; NYSE: MGA) and Veoneer (NYSE: VNE; 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 an equity 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. ....

United States , Tracy Fuerst , Louis Tonelli , Swamy Kotagiri , Jan Carlson , York Stock Exchange , Morgan Stanley , Sidley Austin , Veoneer Investor Relations Department , Rothschild Co , Magna International Inc , Meagher Flom , Exchange Commission , Veoneer Inc , Corporate Communications , North America , Vice President , Investor Relations , Potential Risks Related , Applicable Forward Looking , Supplier Related , Annual Information Form , United States Securities , Annual Information , New York Stock Exchange , Nasdaq Stockholm ,

Magna to acquire Veoneer, positioning Magna's ADAS business as a global leader in a fast-growing industry


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Magna
 is more than one of the world s largest suppliers in the automotive space. We are a mobility technology company with a global, entrepreneurial-minded team of 158,000 employees and an organizational structure designed to innovate like a startup. With 60+ years of expertise, and a systems approach to design, engineering and manufacturing that touches nearly every aspect of the vehicle, we are positioned to support advancing mobility in a transforming industry. Our global network includes 347 manufacturing operations and 84 product development, engineering and sales centers spanning 28 countries. For further information about Magna [(NYSE:MGA; TSX:MG)], please visit
Magna Forward-Looking Statements ....

United States , Tracy Fuerst , Louis Tonelli , Swamy Kotagiri , Jan Carlson , York Stock Exchange , Morgan Stanley , Sidley Austin , Rothschild Co , Magna International Inc , Meagher Flom , Veoneer Inc , Exchange Commission , Delaware Corporation Acquisition Sub , Corporate Communications , Magna International , North America , Vice President , Potential Risks Related , Applicable Forward Looking Statement , Supplier Related , Product Cybersecurity , Annual Information Form , United States Securities , Annual Information , New York Stock Exchange ,

Investegate |Magna International Inc.; Veon Announcements | Magna International Inc.; Veon: Magna to Acquire Veoneer, Positioning Magna's ADAS Business as a Global Leader in a Fast-Growing Industry


ABOUT MAGNA
Magna is more than one of the world’s largest suppliers in the automotive space. We are a mobility technology company with a global, entrepreneurial-minded team of 158,000 employees and an organizational structure designed to innovate like a startup. With 60+ years of expertise, and a systems approach to design, engineering and manufacturing that touches nearly every aspect of the vehicle, we are positioned to support advancing mobility in a transforming industry. Our global network includes 347 manufacturing operations and 84 product development, engineering and sales centres spanning 28 countries.
For further information about Magna [(NYSE: MGA; TSX: MG)], please visit www.magna.com or follow us on Twitter @MagnaInt. ....

United States , Tracy Fuerst , Louis Tonelli , Swamy Kotagiri , Jan Carlson , York Stock Exchange , Morgan Stanley , Sidley Austin , Veoneer Investor Relations Department , Rothschild Co , Magna International Inc , Meagher Flom , Veoneer Inc , Exchange Commission , Delaware Corporation Acquisition Sub , Corporate Communications , Acquire Veoneer , Positioning Magna , Global Leader , North America , Vice President , Investor Relations , Potential Risks Related , Applicable Forward Looking , Supplier Related , Annual Information Form ,