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BorgWarner to Acquire Delphi Technologies to Strengthen Propulsion Systems Leadership

BorgWarner Inc. (NYSE: BWA) and Delphi Technologies PLC (NYSE: DLPH) have entered into a definitive transaction agreement under which BorgWarner will acquire Delphi Technologies in an all-stock transaction to create one of the leading pure-play propulsion companies globally, serving light and commercial vehicle manufacturers and the aftermarket.

Through this transaction, we will...

Increase our power electronics products, capabilities and scale, creating a leader in electrified propulsion systems that is well-positioned to take advantage of future propulsion migration

Enhance our combustion, commercial vehicle and aftermarket businesses

Maintain flexibility across combustion, hybrid and electric propulsion, consistent with our evolution towards the propulsion market of the future

Deliver adjusted GAAP EPS accretion in the second full year after closing and meaningful cost synergies by 2023

Frédéric Lissalde
President and Chief Executive Officer, BorgWarner Inc.

This exciting transaction represents the next step in BorgWarner’s balanced propulsion strategy, strengthening our position in electrified propulsion as well as our combustion, commercial vehicle and aftermarket businesses. Delphi Technologies will bring proven leading power electronics technologies, talent and scale that will complement our hybrid and electric vehicle propulsion offerings. As a combined company, we look forward to delivering enhanced solutions to our customers while driving increased value for our stockholders.