BorgWarner to Acquire Delphi Technologies in All-Stock Transaction to Strengthen Propulsion Systems Leadership

Posted bytommycarstensen Leave a comment on BorgWarner to Acquire Delphi Technologies in All-Stock Transaction to Strengthen Propulsion Systems Leadership

BorgWarner ($BWA) is to acquire Delphi Technologies ($DLPH) to strengthen its propulsion systems leadership.

The all-stock transaction happens at a time, when both companies are trading at low multiples. $DLPH is up ~60%, whereas $BWA is down ~7%.

Below is a summary of the segments of the two S&P500 companies and some of the powertrain manufacturers of the auto parts industry.

Aptiv ($APTV) spun off their Powertrain Systems segment into Delphi Technologies ($DLPH) in 2017. Tenneco ($TEN) acquired Federal-Mogul ($FDML) in 2018.

BWA and DLPH revenue.
Powertrain revenue.
Operating margin.
Quarterly revenue.
Trailing twelve months (TTM) revenue.
Weighted average diluted shares outstanding on an annual basis.
Weighted average diluted shares outstanding on a quarterly basis.
Time series of enterprise value over operating income.
Time series of price-to-sales ratio.

Reuters – BorgWarner to buy Delphi Technologies in $3.3 billion auto parts deal

Bloomberg – BorgWarner to Buy Delphi for $1.5 Billion in Auto-Parts Deal

Bloomberg 2020-01-28 – BorgWarner Is in Talks to Acquire Delphi

$DLPH 8K. $BWA 8K.

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