Tuesday Ticker: October 12, 2021

Toronto, Ontario ⁠— This week, Magna may have an opportunity to pick up Qualcomm’s leftovers from the Veoneer acquisition; an Ontario-based battery maker lands a unique deal to break ground in Quebec; while Tesla CEO Elon Musk announces a new home for the EV brand. More opportunities for Magna Magna International may have missed out […]

Tuesday Ticker: October 5, 2021

Toronto, Ontario ⁠— This week, Magna gets booted from its proposed deal with automotive technology group Veoneer, Rivian officially files its initial public offering (IPO) and Axalta reevaluates its full-year guidance. Melancholy at Magna Swedish automotive technology firm Veoneer has opted to go with Qualcomm’s $37-per-share merger bid following a previously announced merger with Aurora, […]

Two Dates to the Dance: Veoneer takes acquisition deal with Magna despite Qualcomm outbid

Stockholm, Sweden — Veoneer has decided to stick with Magna International’s acquisition bid after being courted with a higher offer from Qualcomm, though Veoneer says it will continue in negotiations with Qualcomm. Last month, Aurora, Ont.-based Magna International put forth a $31.25 per share bid on Veoneer which was outbid by Qualcomm on Monday, who […]

Advancing ADAS: Magna purchasing auto safety technology company for US$3.8-billion in pursuit to lead in smart cars

Aurora, Ontario — Magna International Inc. is purchasing automotive safety technology company Veoneer to reach its goal of becoming a leader in smart car technology, the company announced Thursday.  Magna will reportedly acquire the Swedish company for US$3.8-billion.  “The acquisition builds on Magna’s strengths and positions the company’s advanced driver assistance systems (ADAS) business as […]