Deals
BorgWarner to Buy Delphi for $1.5 Billion in Auto-Parts Deal
- Powertrain suppliers position for age of electrification
- Evercore calls deal a ‘life raft’ for industry in evolution
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BorgWarner Inc. agreed to acquire Delphi Technologies Plc for about $1.5 billion in an all-stock deal that unites two auto suppliers positioning for the industry’s transformational shift to hybrid and electric vehicles.
The deal values Delphi Technologies at about $3.3 billion including debt, according to a statement Tuesday. Its shares surged a record 66% to $16.30, the highest intraday since September. BorgWarner plunged as much as 8.4% to $35.14, the lowest since October.