Skip to content

Magna Buys Driver-Assist Supplier Veoneer for $3.8 Billion

  • Veoneer shares slumped following spinoff by Autoliv in 2018
  • Offer represents a 57% premium to closing price Thursday
Video player cover image
Magna Buying Veoneer for $3.8 Billion
Updated on

Magna International Inc. will acquire Veoneer Inc. for $3.8 billion in cash, bolstering its business supplying advanced driver-assistance systems to automakers.

The Canadian company’s $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.