As a combined company, we look forward to delivering enhanced solutions to our customers while driving increased value for our stockholders.This communication may contain forward-looking statements as contemplated by the 1995 Private Securities Litigation Reform Act that reflect, when made, Delphi Technologies’ or BorgWarner’s respective current views with respect to future events, including the proposed transaction, and financial performance or that are based on their respective management’s current outlook, expectations, estimates and projections, including with respect to the combined group following the proposed transaction, if completed. ET to discuss the transaction. With manufacturing and technical facilities in 67 locations in 19 countries, the company employs approximately 29,000 worldwide. 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.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 migrationEnhance our combustion, commercial vehicle and aftermarket businessesMaintain flexibility across combustion, hybrid and electric propulsion, consistent with our evolution towards the propulsion market of the futureDeliver adjusted GAAP EPS accretion in the second full year after closing and meaningful cost synergies by 2023This 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. "We appreciate that a large majority of Delphi Technologies' shareholders have voted to approve the transaction, underscoring the value that we believe is inherent in bringing our companies together," said Frédéric Lissalde, President and CEO of BorgWarner. Combining with Delphi Technologies is consistent with BorgWarner’s evolution towards the propulsion market of the future and would enable BorgWarner to maintain flexibility across combustion, hybrid, and electric propulsion (C-H-E). Both BorgWarner and Delphi Technologies continue to believe in the long-term strategic value of the transaction and, at this time, are still working together towards closing the transaction in the second half of 2020. The conference call can be accessed by dialing (877) 658-9096 (U.S. / Canada) or (602) 563- 8733 (International) and giving the passcode 8997486. BorgWarner to Acquire Delphi Technologies in All-Stock Transaction to Strengthen Propulsion Systems Leadership Enhances Power Electronics Products, Capabilities and Scale Consistent with BorgWarner’s Balanced An overwhelming majority of Delphi Technologies' shareholders voted in favor of the transaction. BorgWarner’s team shares our focus on addressing today’s and tomorrow’s challenges, and the combination will create exciting opportunities for our employees.
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