BorgWarner Inc., a large supplier of automotive powertrain parts, has agreed to buy Delphi Technologies PLC for $3.3 billion to expand its ability to supply hybrid and electric vehicles
... [+].
The acquisition comes as most automakers have announced increased investments in electric vehicles over the next five years. Partially that is driven by tougher emission standards, especially in Europe. Another factor is that electric vehicles are the engineering foundation of self-driving technology.
Delphi produces a range of auto parts, most of which are engineered to improve engine and transmission efficiency. BorgWarner, based in Auburn Hills, Michigan, announced it will buy back $1 billion of its own stock over the next three years.But the combined business should be better positioned to meet an expected industry transition from gas-fueled internal combustion engines to more electrified powertrains.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Auto supplier BorgWarner to buy Delphi Technologies in $3.3 billion all-stock dealUnder the deal, Delphi stockholders will receive a fixed exchange ratio of 0.4534 share of BorgWarner common stock per Delphi share.
Read more »
AbbVie-Allergan $63 billion deal aided by Nestle, AstraZeneca buysU.S. drugmaker AbbVie's $63 billion tie-up with Allergan is getting help fr...
Read more »
GOP warns Boris Johnson not to rebuff Trump on HuaweiTop House Republican defense hawks are warning Boris Johnson not to allow the Chinese telecommunications giant Huawei a role in Britain’s super-fast 5G networks
Read more »
Poland to sign $4.6 billion F-35 fighter jet deal: ministerPoland will sign a contract worth $4.6 billion for 32 Lockheed Martin F-35 fight...
Read more »
Taste Test: The Best Supermarket Queso DipsWe tasted nine store-bought queso dips. If you don’t have time to make your own, this is the best one you can buy.
Read more »
Make Pretzel Focaccia, Buy Good Sausages, Win the Super BowlEven the easiest homemade bread will make a store-bought spread sing.
Read more »