Magna International, Inc. (MGA) News
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MGA News Highlights
- 500 - Internal server error
- Over the past 29 days, the trend for MGA's stories per day has been choppy and unclear. It has oscillated between 1 and 15.
- AG, VNE and LAW are the most mentioned tickers in articles about MGA.
Latest MGA News From Around the Web
Below are the latest news stories about Magna International Inc that investors may wish to consider to help them evaluate MGA as an investment opportunity.
Chalffy/E+ via Getty Images When we last covered Magna International (MGA) we took the unpopular stance that the valuation was too stretched for great returns. Specifically we said, MGA now trades at a peak price to sales multiple and usually, there is little room for disappointment at these levels. We...
Magna International, Inc. (MGA) has inked an all-cash deal to acquire automotive safety technology provider Veoneer, Inc. (VNE) for a total consideration of $3.8 billion. The deal is expected to conclude by the end of this year. The acquisition is likely to boost Magna’s advanced driver assistance systems (ADAS) customer base and expand its reach to new markets such as Asia. Veoneer’s restraint control systems will enrich Magna’s ADAS business. The acquisition of Veoneer is expected to generate around $100 million in annual run-rate synergies by 2024. Furthermore, Magna’s balance sheet is also expected to improve, following the closure of the deal.
We're gearing up for one final day of trading this week with a breakdown of the biggest pre-market stock movers for Friday!
Shares of VNE stock are soaring on Friday after Veoneer announced that it was being acquired by Magna International.
WeissLaw LLP is investigating possible breaches of fiduciary duty and other violations of law by the board of directors of Veoneer, Inc. ("Veoneer" or the "Company") (NYSE: VNE) in connection with the Company's proposed acquisition by Magna International Inc. ("Magna") (NYSE: MGA). Under the terms of the merger agreement, the Company's shareholders will receive $31.25 per share in cash for each share of Veoneer common stock that they hold. The transaction is valued at approximately $3.3 billion.
WILMINGTON, Del., July 23, 2021 (GLOBE NEWSWIRE) -- Rigrodsky Law, P.A. announces that it is investigating Veoneer, Inc. (“Veoneer”) (NYSE: VNE) regarding possible breaches of fiduciary duties and other violations of law related to Veoneer’s agreement to be acquired by Magna International Inc. (NYSE: MGA). Under the terms of the agreement, Veoneer’s shareholders will receive $31.25 in cash per share. To learn more about this investigation and your rights, visit: https://www.rl-legal.com/cases-ve
(Bloomberg) -- Magna International Inc. will acquire Veoneer Inc. for $3.8 billion in cash, bolstering its business supplying advanced driver-assistance systems to automakers.The Canadian company’s $31.25-a-share offer represents a 57% premium to Veoneer’s closing price on Thursday. The transaction is expected to close toward the end of this year, according to a statement.Veoneer shares rose slightly above the takeover price Friday morning before paring gains to trade at $31.20 at 3:06 p.m. in N
VEONEER ALERT: Bragar Eagel & Squire, P.C. Investigates Sale of VNE and Encourages Investors to Contact the Firm
NEW YORK, July 23, 2021 (GLOBE NEWSWIRE) -- Bragar Eagel & Squire, P.C., a nationally recognized stockholder rights law firm, has launched an investigation into whether the officers or directors of Veoneer, Inc. (NYSE: VNE) breached their fiduciary duties or violated the federal securities laws in connection with the company’s acquisition by Magna International Inc. (NYSE: MGA). Click here to learn more and participate in the action. On July 22, 2021, Veoneer announced that it had entered into a
For fiscal Q2, Veoneer reported an $0.89 per share loss on sales of $398 million -- two cents better profits than analysts had forecast, but revenue nearly 2% shy of consensus estimates. Magna's bid for Veoneer comes to $31.25 per outstanding share, or $3.3 billion total, payable in cash. Magna will also assume about $500 million in Veoneer's debt, raising the total value of the transaction to the aforementioned $3.8 billion.
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