M&A · Industrials · Motor Vehicle Parts & Accessories
Magna International Inc to acquire Veoneer, Inc.
Announced Jul 22, 2021 · Terminated Oct 4, 2021
Deal value$3.80BEV $3.13B
Premium53.9%To unaffected price
EV / Adj. EBITDA—1.9x EV / Revenue
ConsiderationAll cash$31.25 per share
Transaction
- Acquirer
- Magna International Inc (MGA)
- Target
- Veoneer, Inc.
- Buyer type
- Strategic
- Offer price per share
- $31.25
- Enterprise value
- $3.13B
- Status
- Terminated Oct 4, 2021
Deal protections
- Break fee (target pays)
- $110M · 2.9%
- Reverse fee (buyer pays)
- —
- Go-shop
- No-shop
- Financing
- No financing condition
Advisors
- To the acquirer
- Citigroup
- To the target
- Rothschild & Co, Morgan Stanley
Sector context · Industrials
- Comparable deals
- 34 in the prior 24 months
- Premium
- 53.9% vs. 34.5% sector median
- EV / Adj. EBITDA
- Sector median 12.5x
- Break fee
- 2.9% vs. 2.7% sector median
Timeline
- AnnouncedJul 22, 2021
- Proxy filedAug 19, 2021
- Definitive proxySep 9, 2021
- Shareholder vote—
- TerminatedOct 4, 2021