(Reuters) – Veoneer Inc said on Sunday it would start talks with chipmaker Qualcomm Inc after its offer for the Swedish auto parts maker last week topped a rival bid by Magna International Inc. Qualcomm’s offer could “reasonably be expected to result in a ‘Superior Proposal’, as defined under the terms of Veoneer’s merger agreement… Continue reading Sweden’s Veoneer says will start talks with Qualcomm over offer
Tag: Magna
UPDATE 1-Sweden’s Veoneer says will start talks with Qualcomm over offer
(Adds detail, quote, background) Aug 8 (Reuters) – Veoneer Inc said on Sunday it would start talks with chipmaker Qualcomm Inc after its offer for the Swedish auto parts maker last week topped a rival bid by Magna International Inc. Qualcomm’s offer could “reasonably be expected to result in a ‘Superior Proposal’, as defined under… Continue reading UPDATE 1-Sweden’s Veoneer says will start talks with Qualcomm over offer
Magna Announces Second Quarter 2021 Results
Sales more than doubled to $9.0 billion, reflecting global light vehicle production increase of 58% Diluted earnings per share and adjusted diluted earnings per share of $1.40, compared to losses of $2.17 and $1.71 last year, respectively Reduced outlook, largely reflecting reduction in expected global light vehicle production due to continued industry semiconductor chip shortage… Continue reading Magna Announces Second Quarter 2021 Results
Fisker-Foxconn EV partnership ‘moving faster than expected,’ CEO Henrik Fisker says
U.S. electric automaker Fisker expects operating expenses to reach between $490 million and $530 million this year, a slight increase in its business outlook for the year that is driven by R&D spending on prototypes for its Ocean SUV, testing and validation of advanced technology, hiring and its “accelerating” partnership with Foxconn. The company, which… Continue reading Fisker-Foxconn EV partnership ‘moving faster than expected,’ CEO Henrik Fisker says
Qualcomm wants to buy Veoneer for $4.6B, beating Magna’s offer
The $3.8 billion sale of Swedish automotive tech company Veoneer to Magna International hit a roadblock Thursday after chipmaker Qualcomm submitted a bid for the company for $800 million more. Qualcomm’s $4.6 billion bid, which comes in at $37 per share, has already received approval from the company’s board and would not need a stockholder… Continue reading Qualcomm wants to buy Veoneer for $4.6B, beating Magna’s offer
Qualcomm Bids $4.6 Billion for Veoneer in Battle With Magna
(Bloomberg) — Qualcomm Inc. offered to buy automotive technology company Veoneer Inc. for $4.6 billion, muscling in on a bid Magna International Inc. made for the supplier last month. At $37 a share, Qualcomm is offering an 18% premium to Magna’s $31.25-a-share bid. Veoneer and Magna said last month their boards had unanimously approved what… Continue reading Qualcomm Bids $4.6 Billion for Veoneer in Battle With Magna
Fisker and Bridgestone Unite Sustainability Ambitions with Partnership on Groundbreaking Fisker Ocean Electric Vehicle
The Fisker Ocean will make its global debut at the upcoming 2021 Los Angeles Auto Show, with production starting on November 17, 2022. The Fisker Ocean features extensive use of recycled materials, including a fully vegan interior, and will come with an optional photovoltaic solar roof. The Fisker Ocean will sit on custom-developed Bridgestone Potenza… Continue reading Fisker and Bridgestone Unite Sustainability Ambitions with Partnership on Groundbreaking Fisker Ocean Electric Vehicle
LG and Magna to manufacture electric powertrain components
LG Magna e-Powertrain headquarters in Incheon, South Korea LG Electronics and Magna International have signed a transaction agreement to set up a joint venture between the two companies. The new company, to be called LG Magna e-Powertrain, is headquartered in Incheon, South Korea and will be led by a strong management team. Leading the new company will… Continue reading LG and Magna to manufacture electric powertrain components
LG Announces Second-Quarter 2021 Financial Results
July 29, 2021 LG Announces Second-Quarter 2021 Financial Results Open share list Share this content. Highest Quarterly Sales Ever As Mobile Division Officially Winds Down SEOUL, July 29, 2021 — LG Electronics Inc. (LG) announced its highest quarterly revenues ever as the company continued to expand its market share for premium home appliances and consumer… Continue reading LG Announces Second-Quarter 2021 Financial Results
Fisker invests in EV charging network Allego’s SPAC merger
Less than a year after its own SPAC merger, electric vehicle startup Fisker has turned investor to support EV charging company Allego. Fisker is investing $10 million in private-investment-in-public equity (PIPE) funding for the merger of Allego and special purpose acquisition company Spartan Acquisition Corp III. The merger, announced Tuesday, puts Allego at a pro… Continue reading Fisker invests in EV charging network Allego’s SPAC merger