Topic: How To Invest

Spinoffs & Takeovers Hotline – Friday, September 4, 2020

Article Excerpt

VEONEER INC., $13.88, symbol VNE on New York, makes automotive radar, cameras with driver assist systems, night vision systems, positioning systems and brake control systems. On June 29, 2018, Veoneer’s former parent, Autoliv (symbol ALV on New York), completed its spinoff. Autoliv shareholders received one Veoneer share for every Autoliv share they held. In April 2020, the spinoff company then ended a joint venture with Volvo Group. That split saw them divide up Zenuity, the joint venture they formed to develop and commercialize driver-assistance software. Under the terms of the deal ending the joint venture, the two companies each took separate components of Zenuity to pursue on their own. Veoneer’s shares are up over 25% since last week after the company’s announcement that it will partner with computer-chip giant Qualcomm (symbol QCOM on Nasdaq). The two aim to develop the software and chips necessary for advanced driver assistance and autonomous driving vehicle platforms. In partnership with Qualcomm, Veoneer expects these new integrated platforms to…