Magna announces termination of merger agreement with veoneer

Aurora, ontario, oct. 04, 2021 (globe newswire) -- magna international inc. (tsx: mg; nyse: mga) today announced that the board of directors of veoneer, inc. has determined that the previously announced proposal by qualcomm incorporated to acquire veoneer for $37 per share is a superior proposal under the terms of the previously announced merger agreement between magna and veoneer, and that magna has waived the four-day matching period to make a counterproposal. accordingly, veoneer has terminated its merger agreement with magna and entered into a merger agreement with qualcomm.
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