Veoneer to Engage in Discussions with Qualcomm
Stockholm, Sweden, August 8, 2021 – The automotive technology company Veoneer, Inc. (NYSE: VNE and SSE: VNE SDB), today announced that Veoneer’s board of directors has determined that Qualcomm’s proposal to acquire Veoneer (the “Qualcomm Proposal”) would reasonably be expected to result in a “Superior Proposal”, as defined under the terms of Veoneer’s merger agreement with Magna (the “Merger Agreement”). As a result of the Board’s determination, Veoneer may under the terms of the Merger Agreement engage in discussions with Qualcomm based on the Qualcomm Proposal and Veoneer intends to do