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Veoneer, Inc.

Merger

  • Date:
  • 7/23/2021
  • Company Name:
  • Veoneer, Inc.
  • Stock Symbol:
  • VNE
  • Company Name - Buyer:
  • Magna International Inc.
  • Stock Symbol - Buyer:
  • MGA
  • Status:
  • Investigating
  • Merger Announcement Date:
  • 7/22/2021

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NEW YORK, July 23, 2021 – Bragar Eagel & Squire, P.C., a nationally recognized stockholder rights law firm, has launched an investigation into whether the officers or directors of Veoneer, Inc. (NYSE: VNE) breached their fiduciary duties or violated the federal securities laws in connection with the company’s acquisition by Magna International Inc. (NYSE: MGA).

On July 22, 2021, Veoneer announced that it had entered into an agreement to be acquired by Magna in a deal valued at approximately $3.8 billion.  Pursuant to the merger agreement, Veoneer stockholders will receive $31.25 in cash for each share of Veoneer common stock owned.  The deal is scheduled to close in the fourth quarter of 2021.

Bragar Eagel & Squire is concerned that Veoneer’s board of directors oversaw an unfair process and ultimately agreed to an inadequate merger agreement.  Accordingly, the firm is investigating all relevant aspects of the deal and is committed to securing the best result possible for Veoneer’s stockholders.
 
The individual or institution below (“Plaintiff”) has reviewed and agrees to the Bragar Eagel & Squire, P.C. (“BESPC”) retainer agreement and authorizes BESPC to prosecute an action on Plaintiff’s behalf under the federal securities laws or applicable state laws to recover damages on behalf of investors in Veoneer. BESPC will prosecute the action on a full contingency basis and will forward all costs and expenses.
 

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