We did it again!

Article Excerpt

VEONEER INC. $36.57 (New York symbol VNE; TSINetwork Rating: Extra Risk) (www.veoneer.com; Shares outstanding: 112.0 million; Market cap: $4.1 billion; No dividends paid) makes Advanced Driver-Assistance Systems (ADAS). We said in the July 2021 issue of Power Growth Investor we thought Veoneer could become a takeover target—including from Qualcomm (symbol QCOM on Nasdaq). On July 22, 2021, Canadian auto-parts maker Magna International (symbol MG on Toronto) offered $31.25 each share of Veoneer. Then, on August 5, 2021, Qualcomm itself offered $37 a share. Veoneer shares are trading just below the Qualcomm takeover bid, which indicates that shareholders are not expecting a higher bid. We’ll continue to update our advice on the competing takeover bids—but meanwhile, the stock is up a spectacular 108.9% since we first recommended it in our November 2020 issue at $17.51! Veoneer is now a hold. hold…

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