BorgWarner Inc. announced that shareholders of Delphi Technologies PLC approved BorgWarner’s all-stock acquisition of Delphi Technologies at a special meeting recently.
Global Business and Financial News, Stock Quotes, and Market Data and Analysis. This communication may contain forward-looking statements as contemplated by the 1995 Private Securities Litigation Reform Act that reflect, when made, Delphi Technologies’ or BorgWarner’s respective current views with respect to future events, including the proposed transaction, and financial performance or that are based on … Partially that is driven by tougher emission standards, especially in Europe. We look forward to closing the transaction which is expected to occur in the second half of 2020.”“We are pleased with the strong support from our shareholders for this transformative transaction, which we believe will create a leading propulsion technologies company that is uniquely equipped to serve OEMs and aftermarket customers around the world,” said Richard F. Dauch, CEO of Delphi Technologies. Combining with Delphi Technologies is consistent with BorgWarner’s evolution towards the propulsion market of the future and would enable BorgWarner to maintain flexibility across combustion, hybrid, and electric propulsion (C-H-E).
Disclaimer. Current BorgWarner stockholders will own about 84% of the combined company, while current Delphi Technologies stockholders are expected to own 16%.The combined $14.5 billion company will be led by BorgWarner President and CEO Frederic Lissalde and BorgWarner CFO Kevin Nowlan, and will operate as BorgWarner.
Auburn Hills’ BorgWarner Inc. and Delphi Technologies, based in London with a customer technical center in Auburn Hills, today announced that the companies have amended certain terms of the definitive transaction agreement they originally …
(RTTNews) - Delphi Technologies Plc.
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.
The conference call can be accessed by dialing (877) 658-9096 (U.S. / Canada) or (602) 563- 8733 (International) and giving the passcode 8997486.
“Delphi Technologies will bring proven leading power electronics technologies, talent and scale that will complement our hybrid and electric vehicle propulsion offerings. "Now BorgWarner, along with Delphi Technologies, (itself the legacy business when the more alluring portfolio was carved out to form Aptiv), is just … I have also worked for a major auto supplier (Visteon) and studied manufacturing with a global consulting firm (Harbour Consulting, now Oliver Wyman).Opinions expressed by Forbes Contributors are their own.
“We are now one step closer to delivering the expected significant benefits of this transaction to our combined stakeholders.