Magna to acquire veoneer, positioning magna's adas business as a global leader in a fast-growing industry

- veoneer's complementary products and capabilities strengthen and broaden magna's adas portfolio and industry position - 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, july 23, 2021 /prnewswire/ -- magna international inc. (tsx: mg; nyse: mga) and veoneer, inc. (nyse: vne and 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 a total 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.
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