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BorgWarner Inc (BWA.N)

BWA.N on New York Stock Exchange

52.20USD
20 Oct 2017
Change (% chg)

$0.15 (+0.29%)
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Latest Key Developments (Source: Significant Developments)

Sevcon stockholders approve acquisition by Borgwarner
Friday, 22 Sep 2017 04:05pm EDT 

Sept 22 (Reuters) - Sevcon Inc :Sevcon stockholders approve acquisition by Borgwarner.Sevcon Inc - ‍Holders of more than 99% of Sevcon's common stock present at meeting voted in favor of approving and adopting merger​.Sevcon Inc - ‍Closing of acquisition with Borgwarner​ is expected to occur on or about September 27, 2017.  Full Article

Sevcon says Louis Scarantino filed purported stockholder class action lawsuit against co
Thursday, 24 Aug 2017 05:21pm EDT 

Aug 24 (Reuters) - Borgwarner Inc :Sevcon Inc - ‍On Aug 22, Louis Scarantino filed purported stockholder class action lawsuit against co,directors,Borgwarner, and one of its unit in court.Sevcon- ‍Plaintiff alleges co's prelim proxy statement filed on Aug 8 omits/ misrepresents material info regarding some financial data.Sevcon- ‍Plaintiff also alleges prelim proxy statement omits/ misrepresents material info regarding some analyses underlying Rothschild Inc's opinion.  Full Article

Borgwarner declares quarterly cash dividend of $0.14 per share
Thursday, 27 Jul 2017 06:31am EDT 

July 27 (Reuters) - Borgwarner Inc :Borgwarner Inc - declared a quarterly cash dividend of $0.14 per share of common stock.  Full Article

BorgWarner Q2 earnings per share $0.96 excluding items
Thursday, 27 Jul 2017 06:30am EDT 

July 27 (Reuters) - BorgWarner Inc ::BorgWarner reports second quarter 2017 U.S. Gaap net earnings of $1.00 per diluted share, or $0.96 per diluted share excluding non-comparable items.Q2 earnings per share $0.96 excluding items.Q2 gaap earnings per share $1.00.Q2 sales $2.39 billion versus I/B/E/S view $2.28 billion.Q2 earnings per share view $0.89 -- Thomson Reuters I/B/E/S.Sees FY 2017 sales $9.28 billion to $9.38 billion.Sees Q3 net earnings are expected to be within a range of $0.84 to $0.87 per diluted share..Q3 earnings per share view $0.84, revenue view $2.18 billion -- Thomson Reuters I/B/E/S.BorgWarner Inc says raises full year eps guidance to $3.65 - $3.70.BorgWarner Inc says company expects Q3 2017 organic net sales growth of 3.0% to 6.0% compared with Q3 2016 proforma net sales of $2.1 billion.FY 2017 earnings per share view $3.58, revenue view $9.14 billion -- Thomson Reuters I/B/E/S.BorgWarner Inc sees ‍2017 organic net sales growth of 6.5% to 7.5%​.BorgWarner Inc - ‍foreign currencies are expected to lower FY sales by approximately $100 million​.BorgWarner Inc says foreign currencies are expected to lower Q3 sales by approximately $36 million.BorgWarner Inc - ‍excluding impact of non-comparable items, operating margin is expected to improve by 30 to 40 basis points for FY​.  Full Article

Sevcon and Borgwarner provide update on merger agreement termination fee
Monday, 17 Jul 2017 07:50am EDT 

July 17 (Reuters) - Borgwarner Inc ::Sevcon Inc , Borgwarner updates on merger agreement termination fee - sec filing.Sevcon Inc, Borgwarner termination fee is $1.6 million if it becomes payable in connection with a superior proposal.Sevcon Inc, Borgwarner reverse termination fee set at $4.8 million.  Full Article

BorgWarner enters agreement to acquire Sevcon
Monday, 17 Jul 2017 07:30am EDT 

July 17 (Reuters) - BorgWarner Inc ::BorgWarner enters into agreement to acquire Sevcon.Expected enterprise value of transaction at closing is approximately $200 million​.  Full Article

Sevcon signs definitive agreement to be acquired by BorgWarner
Monday, 17 Jul 2017 07:30am EDT 

July 17 (Reuters) - Sevcon Inc -:Sevcon signs definitive agreement to be acquired by BorgWarner.Sevcon Inc - ‍transaction price of $22.00 per share represents a 61% premium to closing sale price of common stock of company on Friday​.Sevcon inc - ‍sevcon board of directors has unanimously approved merger agreement and has recommended approval of merger by Sevcon's stockholders​.Sevcon Inc - ‍transaction is not subject to a financing condition​.Sevcon Inc - ‍total transaction value, including assumption of indebtedness, is expected to be approximately $200 million at closing of transaction​.  Full Article

BorgWarner enters into third amended and restated credit agreement with Bank Of America, other lenders
Friday, 30 Jun 2017 02:08pm EDT 

June 30 (Reuters) - BorgWarner Inc ::Says on June 29, co entered into a third amended and restated credit agreement with Bank Of America, other lenders - SEC filing.BorgWarner says under amendment, lenders committed to provide loans under unsecured revolving credit facility in initial maximum principal amount of up to $1.2 billion.BorgWarner says the commitments of the lenders under the credit facility mature on June 29, 2022.BorgWarner says under amendment, initial maximum principal amount, may be increased by additional principal amount of up to $300 million on co's request.  Full Article

BorgWarner starts production of dual-clutch module
Monday, 22 May 2017 08:30am EDT 

May 22 (Reuters) - BorgWarner Inc ::BorgWarner Inc - started production of a new dual-clutch module family to be featured in latest transmission from ZF.  Full Article

Delphi announces plans for tax-free spin-off of powertrain segment
Wednesday, 3 May 2017 06:44am EDT 

May 3 (Reuters) - Delphi Automotive Plc ::Delphi announces plans for tax-free spin-off of powertrain segment.Delphi automotive - following transaction, which is expected to be completed by march 2018, delphi shareholders will own shares of both companies.Delphi automotive plc - timothy manganello, will become non-executive chairman of new powertrain company's board of directors upon separation.Delphi automotive plc- upon completion of planned spin-off, delphi shareholders will receive shares of powertrain via a pro rata special distribution.Delphi automotive plc - manganello was most recently chairman of board and chief executive officer of borgwarner, inc.Says powertrain intends to have its ordinary shares listed on new york stock exchange.Delphi automotive plc- powertrain intends to have its ordinary shares listed on new york stock exchange.Delphi automotive - liam butterworth, currently senior vice president and president, powertrain systems, will become president and ceo of new entity..Delphi automotive plc - upon completion of planned spin-off, delphi shareholders will receive shares of powertrain via a pro rata special distribution..Delphi automotive plc - powertrain intends to have its ordinary shares listed on new york stock exchange..  Full Article

Fitch Affirms BorgWarner's IDR at 'BBB+'; Outlook Stable

(The following statement was released by the rating agency) CHICAGO, September 27 (Fitch) Fitch Ratings has affirmed BorgWarner Inc.'s (BWA) Long-Term Issuer Default Rating (IDR) at 'BBB+' and Short-Term IDR at 'F2'. Fitch has also affirmed BWA's unsecured credit facility and senior unsecured notes ratings at 'BBB+' and Commercial Paper (CP) program rating at 'F2'. A complete list of ratings follows at the end of this release. BWA's ratings apply to a $1.2 billion unsecured revolving credit faci