Topic: How To Invest

Power Growth Investor Hotline – Friday, July 30, 2021

Article Excerpt

VEONEER INC., $31.32, is now a takeover hold. The company (symbol VNE on New York) makes automotive radar, cameras with driver-assist systems, night-vision equipment, positioning systems and brake controls. Swedish-based Autoliv Inc. (symbol ALV on New York) spun off Veoneer to its shareholders on June 29, 2018. Autoliv shareholders received one VNE share for every ALV share they held. We said in the July 2021 issue of Power Growth Investor that we thought Veoneer could well become a takeover target. Well, the company has now agreed to a takeover offer from Canadian auto-parts maker Magna International Inc. (symbol MG on Toronto). On July 22, 2021, Magna offered $31.25 in cash for each share of Veoneer. That caused Veoneer shares to jump 57% to today’s price. Meanwhile, the stock is up a spectacular 79% since we first recommended it in our November 2020 issue at $17.51! While fully self-driving vehicles are likely years away, assisted-driving features, such as adaptive cruise control, are becoming more common. The…

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