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

Aurora, ontario and stockholm, sweden, july 22, 2021 (globe newswire) -- magna international inc. (tsx: mg; nyse: mga) and veoneer (nyse: vne; 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 an equity 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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