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    MG   CA5592224011

MAGNA INTERNATIONAL INC.

(MG)
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SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector newsMarketScreener Strategies

Veoneer Says It Received Updated Proposal From Qualcomm

09/13/2021 | 05:52pm EDT

By Stephen Nakrosis

Automotive technology company Veoneer Inc. on Monday said it was confirming reception of an updated non-binding proposal from Qualcomm Inc. under which Qualcomm would acquire all outstanding shares of Veoneer for $37 each in cash.

In July, Veoneer said it entered definitive merger agreement with Magna International Inc., and earlier this month said it filed with the U.S. Securities and Exchange Commission to hold a special meeting of stockholders on Oct. 19 to consider that deal.

Veoneer said it is evaluating the terms of Qualcomm's proposal "and will, if appropriate, engage in negotiations with Qualcomm and/or Magna to ascertain the best possible outcome for its stockholders."

Veoneer said the merger agreement with Magna "remains in full force and effect, and the board of directors of Veoneer has not withdrawn or modified its recommendation that the stockholders of Veoneer vote in favor of the approval of the merger."

Write to Stephen Nakrosis at stephen.nakrosis@wsj.com

(END) Dow Jones Newswires

09-13-21 1751ET

Stocks mentioned in the article
ChangeLast1st jan.
MAGNA INTERNATIONAL INC. -0.71% 102.59 Delayed Quote.13.85%
QUALCOMM, INC. 1.83% 132.5 Delayed Quote.-13.02%
VEONEER, INC. 0.00% 35.18 Delayed Quote.65.16%
All news about MAGNA INTERNATIONAL INC.
10/18MAGNA INTERNATIONAL : Ford Honors Magna at 23rd World Excellence Awards
AQ
10/14MAGNA INTERNATIONAL : News Release - Ford Honors Magna at 23rd World Excellence Awards
PU
10/11MAGNA INTERNATIONAL : Barclays Downgrades Magna International's Price Target to Equalweigh..
MT
10/06Scotiabank on the Post-Pandemic Recovery of Canada's Small-, Medium-Sized Companies
MT
10/05MAGNA INTERNATIONAL : Q3-2021 Results Conference Call
GL
10/05MAGNA INTERNATIONAL : Wells Fargo Adjusts Magna International's Price Target to $84 from $..
MT
10/04MAGNA INTERNATIONAL : Qualcomm, SSW Partners to buy Veoneer in $4.5 billion deal
RE
10/04Technology Shares Slide as Bond Yields Rise -- Tech Roundup
DJ
10/04Qualcomm, SSW Partners Strike $4.5 Billion Takeover Deal for Veoneer as Magna Pact Canc..
MT
10/04MAGNA INTERNATIONAL : Announces Termination of Merger Agreement With Veoneer (Form 6-K)
PU
More news
Analyst Recommendations on MAGNA INTERNATIONAL INC.
More recommendations
Financials (USD)
Sales 2021 37 571 M - -
Net income 2021 2 027 M - -
Net Debt 2021 1 359 M - -
P/E ratio 2021 12,8x
Yield 2021 2,06%
Capitalization 24 962 M 24 976 M -
EV / Sales 2021 0,70x
EV / Sales 2022 0,61x
Nbr of Employees 158 000
Free-Float 99,4%
Chart MAGNA INTERNATIONAL INC.
Duration : Period :
Magna International Inc. Technical Analysis Chart | MG | CA5592224011 | MarketScreener
Technical analysis trends MAGNA INTERNATIONAL INC.
Short TermMid-TermLong Term
TrendsBullishBearishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 18
Last Close Price 83,01 $
Average target price 98,78 $
Spread / Average Target 19,0%
EPS Revisions
Managers and Directors
Seetarama Kotagiri President & Chief Executive Officer
Vincent J. Galifi Chief Financial Officer & Executive Vice President
Bill L. Young Chairman
Paul Bellack Vice President-Information Technology
Anton Mayer Executive Vice President-Research & Development
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