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Levi & Korsinsky, LLP has commenced an investigation into the fairness of the merger of Delphi Technologies PLC (“Delphi” or the “Company”) (NYSE: DLPH) with BorgWarner Inc. (“BorgWarner”) (NYSE: BWA). Under the terms of the agreement, Delphi stockholders would receive a fixed exchange ratio of 0.4534 shares of BorgWarner common stock per Delphi share. Upon closing of the transaction, current BorgWarner stockholders are expected to own approximately 84% of the combined company, while current Delphi stockholders are expected to own approximately 16%.
The Delphi merger investigation concerns whether the Board of Delphi breached their fiduciary duties to stockholders by agreeing to enter into this transaction and whether the merger undervalues Delphi relative to BorgWarner, thereby harming Delphi shareholders.
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