In January, BorgWarner agreed to acquire Delphi Technologies in … Delphi Technologies is headquartered in Gillingham, U.K., and was formed by the 2017 split of Delphi Automotive, which spun the other part of its business into Aptiv PLC, which develops safety systems and autonomous vehicle software.
BorgWarner’s products include automatic transmissions, turbochargers, emissions technology and thermal control systems. “We appreciate that a large majority of Delphi Technologies’ shareholders have voted to approve the transaction, underscoring the value that we believe is inherent in bringing our companies together,” said Frédéric Lissalde, president and CEO of BorgWarner. Most of that comes from eliminating redundant functions and jobs.BorgWarner, based in Auburn Hills, Michigan, announced it will buy back $1 billion of its own stock over the next three years. A replay of the call will be available from January 28, 2020 until February 4, 2020 by dialing (855) 859-2056 (U.S. / Canada) or (404) 537-3406 (International) and giving the passcode 8997486.A live webcast of the conference call will be available on the investor relations sections of BorgWarner’s and Delphi Technologies’ websites at Associated presentation materials and an infographic regarding the transaction are available on the investor relations section of each company’s website at Delphi Tech Shareholders Approve Acquisition By BorgWarner . DETROIT – BorgWarner on Tuesday announced it will acquire fellow auto supplier Delphi Technologies in an all-stock transaction that values Delphi at about $3.3 billion. We also expect our stockholders will benefit from the opportunity to participate in the future growth and upside potential of the combined company.”Bringing BorgWarner and Delphi Technologies together is expected to: Following the closing of the transaction, the combined company will be led by Frédéric Lissalde, BorgWarner’s President and CEO, and Kevin Nowlan, BorgWarner’s CFO, and will operate as BorgWarner. As a combined company, we look forward to delivering enhanced solutions to our customers while driving increased value for our stockholders.”Mr. Investors in Delphi will get 0.4534 shares of BorgWarner for each Delphi share. Auto parts maker BorgWarner said on Wednesday it had resolved a dispute with UK-based smaller rival Delphi Technologies and was on track to acquire it by the second half of 2020. RTTNews . Global Business and Financial News, Stock Quotes, and Market Data and Analysis. (RTTNews) - Delphi Technologies Plc.
BorgWarner Inc., a large supplier of automotive powertrain parts, has agreed to buy Delphi Technologies PLC for $3.3 billion to expand its ability to supply hybrid and electric vehicles. We want to hear from you.Sign up for free newsletters and get more CNBC delivered to your inboxGet this delivered to your inbox, and more info about our products and services.
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