Magna announces termination of merger agreement with Veoneer

Acquisition, divestment & Spinoff

Veoneer has entered into a merger agreement with Qualcomm

Magna International Inc. today announced that the board of directors of Veoneer, Inc. has determined that the previously announced proposal by Qualcomm Incorporated to acquire Veoneer for USD37 per share is a superior proposal under the terms of the previously announced merger agreement between Magna and Veoneer, and that Magna has waived the four-day matching period to make a counterproposal.

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