NEW YORK, Jan. 30, 2020 /PRNewswire/ -- WeissLaw
LLP is investigating possible breaches of fiduciary duty and
other violations of law by the Board of Directors of Delphi
Technologies PLC ("Delphi Technologies" or the "Company") (NYSE:
DLPH) in connection with the proposed acquisition of the Company by
BorgWarner Inc. (BorgWarner) (NYSE: BWA). Under the terms of
the acquisition agreement, Delphi Technologies shareholders will
receive a fixed exchange ratio of 0.4534 shares of BWA for each
DLPH share owned. The deal is scheduled to close in the
second half of 2020.
If you own DLPH shares and wish to discuss
this investigation or have any questions concerning this notice or
your rights or interests, visit our website:
http://www.weisslawllp.com/delphi-technologies-plc/
Or please contact:
Joshua Rubin, Esq.
WeissLaw LLP
1500 Broadway, 16th Floor
New York, NY 10036
(212) 682-3025
(888) 593-4771
stockinfo@weisslawllp.com
WeissLaw is investigating whether Delphi Technologies' Board
acted to maximize shareholder value prior to entering into the
acquisition agreement. Notably, BorgWarner shareholders will
own the majority share of the combined company with an 84% stake,
while Delphi Technologies shareholders will own a mere 16%.
Additionally, according to BorgWarner's President and CEO
Frédéric Lissalde, the deal "represents the next step in
BorgWarner's balanced propulsion strategy, strengthening our
position in electrified propulsion as well as our combustion,
commercial vehicle and aftermarket businesses…Delphi Technologies
will bring proven leading power electronics technologies, talent
and scale that will complement our hybrid and electric vehicle
propulsion offerings."
Given these facts, WeissLaw is concerned whether the proposed
acquisition agreement undervalues the Company, whether the Board
ran a fair process, and whether all material information related to
the proposed acquisition is fully and fairly disclosed.
WeissLaw LLP has litigated hundreds of stockholder class and
derivative actions for violations of corporate and fiduciary
duties. We have recovered over a billion dollars for
defrauded clients and obtained important corporate governance
relief in many of these cases. If you have information or
would like legal advice concerning possible corporate wrongdoing
(including insider trading, waste of corporate assets, accounting
fraud, or materially misleading information), consumer fraud
(including false advertising, defective products, or other
deceptive business practices), or anti-trust violations, please
email us at stockinfo@weisslawllp.com
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SOURCE WeissLaw LLP