Magna International Inc. (TSX: MG; NYSE: MGA) today reported that it has received notice of an unsolicited mini-tender offer made by TRC Capital Investment Corporation (“TRC Capital”) to purchase up to 2,000,000 Magna Common Shares, or less than 1% of Magna’s outstanding Common Shares, at a price of CDN $57.90 per share.
Magna is growing its electrification customer base with a newly awarded contract from a North America-based OEM to supply a specialized primary rear eDrive system for one of the company’s high-end niche vehicle platforms. The award reinforces Magna’s commitment to supporting the automotive industry’s short and long-term transformational needs.
At CES 2024, leading mobility technology company Magna introduced a breath and camera-based pre-development technology designed to combat impaired driving. The cutting-edge solution represents a significant milestone in the ongoing efforts to enhance road safety.
As CES 2024, one of the world’s largest and most powerful tech events, opens its doors, Magna is off to an electrifying start with the global unveiling of its next generation 800V eDrive solution that sets new standards in efficiency, power-to-weight ratio and torque density.
Magna, a leading global mobility technology company, is enhancing its automated driving capabilities by joining NorthStar – Telia Sweden and Ericsson’s 5G innovation program for industrial enterprises. As part of the agreement, Telia and Ericsson have built a dedicated, private 5G network at Magna’s test track located in Vårgårda, Sweden, where new cutting-edge Advanced Driver Assistance System (ADAS) solutions in vehicle-to-vehicle (V2V) and vehicle-to-everything (V2X) connectivity are being trialed.
Today, Magna held a grand opening of its new mirrors division facility in Rayong Province, Thailand, following an increase in awarded business in exterior mirrors. Company officials were joined by customers and local government representatives to celebrate the occasion.
Magna has revised down its 2021 sales outlook to reflect a deteriorating outlook for light vehicle production in North America and Europe.
The company said it has updated its 2021 outlook to reflect declines in anticipated 2021 light vehicle production, including 7% and 9% in North America and Europe, respectively, in each case relative to expected light vehicle production levels projected in August.
