Bloomberg Tilray Surges as Cannabis Poised to Benefit After Lockdown (Bloomberg) — Tilray Inc. shares surged the most in more than five months as investors rewarded the cannabis company for profiting even amid challenges due to Canada’s Covid-19 restrictions.Net income was $33.6 million for the fiscal fourth quarter ended May 31, compared with a loss… Continue reading Magna Signs Joint Venture Agreement With LG Electronics Focussed On Powertrain Components
Tag: Magna
LG and Magna Sign Joint Venture Agreement and Announce Leadership Team
SEOUL, South Korea and AURORA, Ontario, July 28, 2021 (GLOBE NEWSWIRE) — LG Electronics (LG) and Magna International Inc. (Magna) today signed the transaction agreement which establishes 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… Continue reading LG and Magna Sign Joint Venture Agreement and Announce Leadership Team
Magna to Bring Driver Assistance Into the Digital Age With Industry-First Capabilities in 2022
ICON Pedestrian Detection Magna’s ICON Digital Radar detects pedestrians up to 150 meters away Magna’s ICON Digital Radar detects pedestrians up to 150 meters away ICON™ Digital Radar takes advanced driver-assistance technology to new levels Latest advancement helps address industry challenges for safer driving and higher levels of autonomy Developed in partnership with technology startup… Continue reading Magna to Bring Driver Assistance Into the Digital Age With Industry-First Capabilities in 2022
SHAREHOLDER ALERT: WeissLaw LLP Investigates Veoneer, Inc.
NEW YORK, July 23, 2021 /PRNewswire/ — 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… Continue reading SHAREHOLDER ALERT: WeissLaw LLP Investigates Veoneer, Inc.
SHAREHOLDER ALERT: Rigrodsky Law, P.A. Announces Investigation of Veoneer, Inc. Buyout
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… Continue reading SHAREHOLDER ALERT: Rigrodsky Law, P.A. Announces Investigation of Veoneer, Inc. Buyout
Magna Buys Driver-Assist Supplier Veoneer for $3.8 Billion
(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 $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 traded… Continue reading Magna Buys Driver-Assist Supplier Veoneer for $3.8 Billion
Magna (MGA) to Enhance ADAS Portfolio on Veoneer Acquisition
Magna International MGA recently entered into an agreement to acquire Veoneer Inc. VNE — an automotive-safety technology company — with a vision to expand its advanced driving assistance systems (ADAS). Per the agreement, Magna will acquire all of the issued and outstanding shares of Veoneer for $31.25 per share in cash, representing an equity value… Continue reading Magna (MGA) to Enhance ADAS Portfolio on Veoneer Acquisition
Magna To Buy Veoneer For $3.8B
Motley Fool 3 Top Stocks to Buy in July The S&P 500 is up roughly 15% across 2021’s trading, but concerns related to the pandemic and inflation are also creating volatility. Airbnb (NASDAQ: ABNB) has already disrupted the travel space, and its name is virtually synonymous with the short-term vacation rental category. Surging cases of… Continue reading Magna To Buy Veoneer For $3.8B
Financial Report April – June 2021: Veoneer
STOCKHOLM, July 23, 2021 /PRNewswire/ — Financial Summary – Q2’21 Sequential improvement in operating loss and cash flow despite lower than expected LVP and continued supply chain challenges Net Sales $398 million, Net sales increase 116%, Organic Sales1 108% Active Safety Net Sales increase 149%, Organic Sales increase 140% Operating cash flow $(69) million. Cash… Continue reading Financial Report April – June 2021: Veoneer
Magna to Acquire Veoneer, Positioning Magna’s ADAS Business as a Global Leader in a Fast-Growing Industry
Veoneer’s complementary products and capabilities strengthen and broaden Magna’s ADAS portfolio and industry position Transaction adds significant engineering and software expertise, including in sensor perception and drive policy software Enhances Magna’s ADAS systems capabilities and feature functionality AURORA, Ontario and STOCKHOLM, Sweden, July 22, 2021 (GLOBE NEWSWIRE) — Magna International Inc. (TSX: MG; NYSE: MGA)… Continue reading Magna to Acquire Veoneer, Positioning Magna’s ADAS Business as a Global Leader in a Fast-Growing Industry