BorgWarner acquisition of Delphi in jeopardy: web report

Wards Auto is reporting that the recently announced acquisition of Delphi Technologies by BorgWarner could be in jeopardy.

The company’s news site says Delphi’s use of a $500 million line of credit is being interpreted by BorgWarner as a violation of the acquisition agreement.

According to Wards Auto, “the deal announced in January for BorgWarner to take over Delphi Technologies, then valued at $3.3 billion, now hangs in the balance.”

Both sides have indicated that the deal is still in the works, but tensions have apparently arisen over the companies’ handling of the Covid-19 crisis.

You can read the Wards Auto report HERE.