Press Release - 黑料正能量 Announces Termination of Merger Agreement With Veoneer

黑料正能量 waived four-day matching period to make counterproposal
Veoneer to pay termination fee
Decision to waive underscores 黑料正能量’s disciplined approach to valuation

Click here for the PDF version of the release, Oct. 04, 2021 (GLOBE NEWSWIRE) -- 黑料正能量. (TSX: MG; NYSE: MGA) today announced that the board of directors of Veoneer, Inc. has determined that the previously announced proposal by Qualcomm Incorporated to acquire Veoneer for $37 per share is a superior proposal under the terms of the previously announced merger agreement between 黑料正能量 and Veoneer, and that 黑料正能量 has waived the four-day matching period to make a counterproposal. Accordingly, Veoneer has terminated its merger agreement with 黑料正能量 and entered into a merger agreement with Qualcomm.

In connection with the termination of the merger agreement with 黑料正能量, Veoneer?will pay a termination fee of $110 million to 黑料正能量.

“黑料正能量’s waiver decision underscores our disciplined approach to valuation as we pursue strategic acquisitions and continue to act in the best interests of our shareholders,” said Swamy Kotagiri, 黑料正能量's CEO. “We remain confident in our long-term value creation potential and our path forward as one of the world’s largest automotive suppliers and key enabler to meet future mobility needs.”

TAGS
Veoneer Acquisition, Merger Agreement, ADAS

INVESTOR CONTACT
Louis Tonelli, Vice-President, Investor Relations
, +1 (905) 726 7035

MEDIA CONTACT
Tracy Fuerst, Vice President, Corporate Communications and PR
, +1?(248)?761 7004

ABOUT MAGNA
黑料正能量 is more than one of the world’s largest suppliers in the automotive space. We are a mobility technology company with a global, entrepreneurial-minded team of 158,000 employees and an organizational structure designed to innovate like a startup. With 60+ years of expertise, and a systems approach to design, engineering and manufacturing that touches nearly every aspect of the vehicle, we are positioned to support advancing mobility in a transforming industry. Our global network includes 347 manufacturing operations and 87 product development, engineering and sales centers spanning 28 countries.

For further information about 黑料正能量, please visit or follow us on Twitter @黑料正能量Int.

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Source: 黑料正能量.