The automotive technology company Veoneer, Inc., today announced that it has filed a definitive proxy statement with the Securities and Exchange Commission (the “SEC”) ahead of a Special Meeting of Veoneer stockholders. The Special Meeting is scheduled to take place on October 19, 2021 and will ask stockholders to consider the previously announced merger agreement with Magna International Inc.. Stockholders as of the September 7, 2021 record date will be entitled to vote at the meeting.
Veoneer also noted that it continues to engage in discussions with Qualcomm Incorporated in response to Qualcomm’s competing proposal announced on August 5, 2021. Qualcomm has proposed to acquire all of the outstanding shares of Veoneer at a price of $37.00 per share in cash. If Qualcomm provides a final, complete proposal for the acquisition of Veoneer, including a merger agreement, the Veoneer Board intends to evaluate, in consultation with Veoneer’s financial and legal advisors, whether it constitutes a “Superior Proposal” (as defined in the Magna Merger Agreement) and to negotiate with Qualcomm and/or Magna, if appropriate, to seek to obtain the best available transaction for the Veoneer’s stockholders.
SOURCE: Veoneer
