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.
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