Recent events
Recent events tied to this brand in public sources.
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2021
Seeing Machines raises US$41 million through share placing
Seeing Machines raised gross proceeds of US$41 million through an oversubscribed share placing, exceeding its target by US$1 million. The company said the funds would accelerate growth and rollout of its driver monitoring system and support expansion into other transport sectors. Magna International invested US$10 million in the issue.
2021
Magna terminates merger agreement to acquire Veoneer
Magna terminated its merger agreement to acquire Veoneer after Qualcomm's offer was ruled a superior proposal; Veoneer will pay Magna a US$110 million termination fee.
2021
Veoneer ends its agreement with Magna
Veoneer had previously agreed to sell itself to Magna, but the article reports that the agreement was canceled after Qualcomm submitted a higher bid. Veoneer was to pay Magna a $110 million breakup fee.
2021
Waymo completes $2.5 billion funding round
Waymo completed a $2.5 billion funding round with participation from several investors, including its parent Alphabet.
2020
Dow and partners collaborate on medical isolation gowns
Dow collaborated with nine partners to develop and donate 100,000 medical isolation gowns for frontline workers in Texas, Louisiana and Mexico.
2020
Magna International reports first-quarter earnings
Magna International reported first-quarter net income of $261 million, down from $1.1 billion a year earlier, and revenue of $8.66 billion, down from $10.59 billion. The company said factory shutdowns across its global operations affected results.
2020
Magna reports reduced or suspended plant operations
Magna said many of its plants had reduced or suspended operations as auto companies scaled back because of the COVID-19 outbreak. Its China operations were still ramping up and below levels expected earlier in the year.
2020
Magna withdraws its 2020 outlook
Magna International Inc. withdrew its 2020 outlook, citing the high degree of business uncertainty caused by the COVID-19 pandemic.