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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Magna International Inc | TSX:MG | Toronto | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.26 | 0.41% | 64.21 | 64.19 | 64.21 | 64.25 | 63.00 | 63.27 | 905,790 | 19:02:12 |
In connection with the termination of the merger agreement with Magna, Veoneer will pay a termination fee of $110 million to Magna.
“Magna’s waiver decision underscores our disciplined approach to valuation as we pursue strategic acquisitions and continue to act in the best interests of our shareholders,” said Swamy Kotagiri, Magna's CEO. “We remain confident in our long-term value creation potential and our path forward as one of the world’s largest automotive suppliers and key enabler to meet future mobility needs.”
TAGSVeoneer Acquisition, Merger Agreement, ADAS
INVESTOR CONTACTLouis Tonelli, Vice-President, Investor Relations louis.tonelli@magna.com, +1 (905) 726 7035
MEDIA CONTACT Tracy Fuerst, Vice President, Corporate Communications and PRtracy.fuerst@magna.com, +1 (248) 761 7004
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 87 product development, engineering and sales centers spanning 28 countries.
For further information about Magna, please visit www.magna.com or follow us on Twitter @MagnaInt.
MAGNA FORWARD-LOOKING STATEMENTSTHIS RELEASE MAY CONTAIN STATEMENTS WHICH CONSTITUTE “FORWARD-LOOKING STATEMENTS” UNDER APPLICABLE SECURITIES LEGISLATION AND ARE SUBJECT TO, AND EXPRESSLY QUALIFIED BY, THE CAUTIONARY DISCLAIMERS THAT ARE SET OUT IN MAGNA’S REGULATORY FILINGS. PLEASE REFER TO MAGNA’S MOST CURRENT MANAGEMENT’S DISCUSSION AND ANALYSIS OF RESULTS OF OPERATIONS AND FINANCIAL POSITION, ANNUAL INFORMATION FORM AND ANNUAL REPORT ON FORM 40-F, AS REPLACED OR UPDATED BY ANY OF MAGNA’S SUBSEQUENT REGULATORY FILINGS, WHICH SET OUT THE CAUTIONARY DISCLAIMERS, INCLUDING THE RISK FACTORS THAT COULD CAUSE ACTUAL EVENTS TO DIFFER MATERIALLY FROM THOSE INDICATED BY SUCH FORWARD-LOOKING STATEMENTS. THESE DOCUMENTS ARE AVAILABLE FOR REVIEW ON MAGNA’S WEBSITE AT WWW.MAGNA.COM.
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