BorgWarner to Buy Delphi for $1.5 Billion in Auto-Parts Deal (3)

Jan. 28, 2020, 3:11 PM

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.

WATCH: Why BorgWarner is buying Delphi for $1.5 billion.
(Source: Bloomberg)

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 ...

To read the full article log in.

Learn more about a Bloomberg Law subscription.