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home / news releases / VNE - Magna International to buy Veoneer in $3.8B deal

VNE - Magna International to buy Veoneer in $3.8B deal

Veoneer Inc.
Magna International (MGA) agrees to acquire Swedish automotive safety technology company Veoneer (VNE) for $31.25/share in cash, a 57% premium over today's $19.93 closing price.The acquisition represents a total equity value of $3.8B and an enterprise value of $3.3B including debt.Magna says Veoneer's complementary products and capabilities will strengthen and broaden its advanced driver assistance systems business.Magna expects the deal will achieve ~$100M in annual run-rate synergies by 2024.Seeing Magna as a key player in the booming electric vehicle supply chain, Goldman Sachs recently upgraded the stock to Buy.

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Magna International to buy Veoneer in $3.8B deal
Stock Information
Company Name: Veoneer Inc.
Stock Symbol: VNE
Market: NYSE
Website: veoneer.com
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