Simpson Thacher is representing BorgWarner Inc. (NYSE: BWA) in its acquisition of Delphi Technologies PLC (NYSE: DLPH) in an all-stock transaction that values Delphi Technologies at approximately $3.3 billion. The transaction is expected to close in the second half of 2020, subject to approval by Delphi Technologies’ stockholders, the satisfaction of customary closing conditions and receipt of required regulatory approvals.
BorgWarner is a global product leader in clean and efficient technology solutions for combustion, hybrid and electric vehicles. With manufacturing and technical facilities in 67 locations in 19 countries, the company employs approximately 30,000 people worldwide.
Delphi Technologies is a global provider of propulsion technologies that make vehicles drive cleaner, better and further. It offers pioneering solutions for internal combustion engine, hybrid and electric passenger cars and commercial vehicles. Headquartered in London, the company operates technical centers, manufacturing sites and customer support service centers in 24 countries and employs more than 21,000 people around the world.
The Simpson Thacher team includes Mario Ponce, Katie Sudol, Philip Cooper, Michael Chao, Michael Ratay, Ngozi Nezianya, Teresita Acedo and Ashley Gherlone (M&A); Jeannine McSweeney, Erin Murphy, Eric Wolf and Arielle Trapp (ECEB); Sara Razi, Ellen Frye and Tomi Mendel (Antitrust); Lori Lesser and Melanie Jolson (IP); Jasmine Hay (Tax); Michael Isby (Environmental); Jennifer Hobbs and Leah Nudelman (Banking and Credit); and Richard Fenyes (Capital Markets).