|Bid||35.38 x 1100|
|Ask||35.40 x 800|
|Day's Range||35.30 - 36.38|
|52 Week Range||30.71 - 46.60|
|Beta (5Y Monthly)||1.85|
|PE Ratio (TTM)||9.71|
|Earnings Date||Feb 12, 2020|
|Forward Dividend & Yield||0.68 (1.92%)|
|Ex-Dividend Date||Nov 28, 2019|
|1y Target Est||47.29|
Rowley Law PLLC is investigating potential securities law violations by Delphi Technologies PLC (NYSE: DLPH) and its board of directors concerning the proposed acquisition of the company by BorgWarner, Inc. (NYSE: BWA). Stockholders will receive 0.4534 shares of BorgWarner common stock for each share of Delphi Technologies stock that they hold. The transaction is valued at approximately $3.3 billion and is expected to close the second half of 2020.
BorgWarner's (BWA) Delphi Technologies buyout will bring together two auto suppliers preparing for transformational shift to hybrid and electric vehicles in the industry.
BALA CYNWYD, PA / ACCESSWIRE / January 28, 2020 / Law office of Brodsky & Smith, LLC announces that it is investigating potential claims against the Board of Directors of Delphi Technologies PLC ("Delphi" ...
Propulsion systems supplier BorgWarner Inc. (NYSE: BWA) will purchase 84% of Delphi Technologies (NYSE: DLPH) in a $3.3 billion all-stock deal that shook the automotive supply sector Tuesday. The announcement sent Delphi shares soaring 61.95% to $15.86 in New York Stock Exchange trading. BorgWarner shares fell 7.76% to close at $35.38.
BorgWarner will buy Delphi Technologies in a $3.3 billion, all-stock deal, seeking leadership in propulsion systems for electric cars.
Moody's Investors Service, ("Moody's") affirmed the ratings of BorgWarner, Inc. ("BorgWarner"), including its Baa1 senior unsecured and Prime-2 short term ratings, following the announcement that BorgWarner has signed a definitive agreement to acquire Delphi Technologies PLC (Delphi). The outlook is revised to negative.
Shares of Delphi Technologies PLC soared 61% Tuesday, after BorgWarner Inc. said it’s acquiring the company in all-stock deal with an enterprise value of about $3.3 billion.
Automotive supplier BorgWarner shocked investors Tuesday, announcing a deal to buy Delphi Technologies. The deal looks like a bet on fossil fueled vehicles—and Borg investors don’t appear happy.
(Bloomberg) -- 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.Both BorgWarner and Delphi’s engine and transmission businesses are expected to enter a period of decline as carmakers consolidate and pivot to electric cars. The suppliers have been investing in products automakers will need for hybrid models that use both gasoline engines and battery power, as well as fully electric vehicles.“This could be the beginning of powertrain consolidation, which is coming out of necessity,” Chris McNally, an analyst with Evercore ISI, said before the announcement. “All the suppliers are dealing with lower global volumes combined with the transition toward electric vehicles, which requires heavy investment.”Deal TermsDelphi Technologies stockholders will receive 0.4534 BorgWarner shares for each Delphi Technologies share held. That would represent a premium of about 77% to Delphi Technologies’ closing price Monday.BorgWarner stockholders would own about 84% of the combined company, while current Delphi Technologies owners would hold 16%, according to the statement. The companies said they see cost savings of about $125 million by 2023.The announcement by BorgWarner confirmed an earlier report by Bloomberg News. The deal is the Auburn Hills, Michigan-based company’s biggest acquisition to date, surpassing its purchase of Remy International Inc. for about $950 million in 2015, according to data compiled by Bloomberg.BorgWarner’s biggest customers are Ford Motor Co. and Volkswagen AG, while Delphi Technologies’ are Daimler AG and General Motors Co., according to data compiled by Bloomberg.Evercore’s McNally called the deal a “life raft” for an industry in evolution and said their portfolios are more complementary than significantly overlapping.Delphi’s SplitForced by governments around the world to improve fuel efficiency and cut emissions, automakers are turning to smaller, lighter engines and electrifying their lineups. The industry has also been hit by sluggish economic growth and the U.S. trade war with China.Delphi Technologies, based in Gillingham, England, was one of two companies to split from Delphi Automotive in 2017. The other was Aptiv Plc, focused on new technology like advanced safety systems and self-driving car software. The split left the smaller Delphi Technologies to focus on supplying engine and transmission parts.Delphi was the world’s largest parts maker when General Motors spun off the company.Bank of America Corp. and Rockefeller Financial LLC advised BorgWarner, while Delphi Technologies worked with Goldman Sachs Group Inc.(Updates with regular trading in second paragraph)\--With assistance from Bloomberg Data's Yukari Chilnik.To contact the reporters on this story: Ed Hammond in New York at email@example.com;David Welch in Southfield at firstname.lastname@example.org;Aaron Kirchfeld in London at email@example.comTo contact the editors responsible for this story: Daniel Hauck at firstname.lastname@example.org, Ben Scent, Anthony PalazzoFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
BorgWarner Inc. (NYSE: BWA) announced Tuesday it will acquire Delphi Technologies PLC (NYSE: DLPH) for about $3.3 billion in an all-stock transaction. “This exciting transaction represents the next step in BorgWarner's balanced propulsion strategy, strengthening our position in electrified propulsion as well as our combustion, commercial vehicle and aftermarket businesses," Frédéric Lissalde, President and CEO of BorgWarner, said in a press release.
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The acquisition, BorgWarner's biggest merger in at least a decade, will add Delphi's expertise in power electronics and expand its own portfolio as the auto industry makes a wider range of vehicles that focus on clean technology. Both companies specialize in auto transmissions, but BorgWarner - the larger of the two with annual revenue of more than $10 billion, has been expanding its products for electric vehicles.
Shares of Delphi Technologies Plc soared 53% in premarket trade Tuesday, after BorgWarner Inc. said it's acquiring the company in all-stock deal with an enterprise value of about $3.3 billion. BorgWarner, which makes technology for combustion, hybrid and electric vehicles, said Delphi shareholders will receive 0.4534 shares of its stock for each Delphi share owned. Upon closing, BorgWarner shareholders will own about 84% of the combined company, with Delphi shareholders owning the remaining 16%. The deal is expected to strengthen BorgWarner's power electronics business. Delphi specializes in propulsion technologies to make cars more efficient. BorgWarner had sales of $10.17 billion in fiscal 2019, while Delphi had sales of $4.36 billion. The deal is expected to be "meaningfully accretive" to adjusted EPS in the second full year after closing and is expected to close in the second half. BorgWarner also announced that is board has approved a share buyback of up to $1 billion to be executed over the next three years. BorgWarner shares fell 8% premarket and have fallen 5.5% in the last 12 months through Monday, while the S&P 500 has gained 23%.
BorgWarner Inc. (NYSE: BWA) and Delphi Technologies PLC (NYSE: DLPH) today announced that they have entered into a definitive transaction agreement under which BorgWarner will acquire Delphi Technologies in an all-stock transaction that values Delphi Technologies' enterprise value at approximately $3.3 billion.
While the Company is still conducting financial closing procedures for the fourth quarter and full year, BorgWarner Inc. (NYSE: BWA) today announced preliminary 2019 financial results and guidance for 2020.
Delphi Technologies jumped more than 60% premarket after it agreed to be acquired by BorgWarner. The $3.3 billion deal combines two major producers of auto parts.
The global auto market may be slowing, but parts maker BorgWarner is putting its foot on the accelerator. On Tuesday it acquired fellow car engine components manufacturer Delphi Technologies for a whopping 77 per cent premium. The price tag allots Delphi, once part of the venerable General Motors, an enterprise value of $3.3bn.
BorgWarner has secured a contract with a major European OEM to supply its high performing eTurbo™ on a passenger vehicle. This business award marks the company's first serial production contract for the eTurbo, with production slated to begin in 2022. With the eTurbo's key performance and energy-usage benefits, BorgWarner is boosting vehicle performance while aiding vehicle manufacturers in meeting more stringent future global emissions regulations, and improving fuel efficiency.
Further validating that its efforts to build a diverse and inclusive culture are delivering results, BorgWarner today announced that it is one of 325 companies across 50 industries included in the 2020 Bloomberg Gender-Equality Index (GEI). The GEI expanded in 2020 to represent 42 countries and regions. Companies range from a variety of industries, including automotive, banking, consumer services, engineering and construction, and retail.