Deals
Magna Buys Driver-Assist Supplier Veoneer for $3.8 Billion
- Veoneer shares slumped following spinoff by Autoliv in 2018
- Offer represents a 57% premium to closing price Thursday
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Magna International Inc. will acquire Veoneer Inc. for $3.8 billion in cash, bolstering its business supplying advanced driver-assistance systems to automakers.
The Canadian company’s $31.25-a-share offer represents a 57% premium to Veoneer’s closing price on Thursday. The transaction is expected to close toward the end of this year, according to a statement.