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BorgWarner (BWA) Reports Acquisition of AKASOL AG

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BorgWarner Agrees to Acquire AKASOL AG, Seeking to Expand Electrification Portfolio

February 15, 2021 7:00 AM EST

AUBURN HILLS, Mich. and DARMSTADT, Germany, Feb. 15, 2021 /PRNewswire/ -- BorgWarner Inc. (NYSE: BWA) and AKASOL AG (ETR: ASL) today announced that they have signed a Business Combination Agreement ("BCA") to position BorgWarner to significantly expand its commercial vehicle electrification capabilities. As part of the agreement, a wholly-owned subsidiary of BorgWarner will launch a voluntary public takeover offer at 120.00 per share in cash for all outstanding shares of AKASOL ("the Offer"). Holders of approximately 59% of AKASOL's outstanding shares have committed through Irrevocable Undertakings to accept the... More