Qualcomm Incorporated (QCOM) has submitted an offer to acquire automotive technology company Veoneer for $37 per share, representing a total equity value of $4.6 billion. Veoneer produces sensors, control units, software and systems for restraint control systems, advanced driving assistance systems, and Collaborative and Automated Driving. It was spun-off from Autoliv in 2018.
Last month, Magna International Inc. (MG.TO, MGA) and Veoneer (VNE) entered into a merger agreement under which Magna will acquire Veoneer. Pursuant to the deal, Magna will acquire all of the issued and outstanding shares of Veoneer for $31.25 per share in cash, representing an equity value of $3.8 billion, and an enterprise value of $3.3 billion.
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