Magna International (MGA)

AURORA, Ontario, Jan. 08, 2025 (GLOBE NEWSWIRE) -- Magna International Inc. (TSX:MG) (NYSEMGA)

AURORA, Ontario, Nov. 19, 2024 (GLOBE NEWSWIRE) -- As OEMs increasingly prioritize hybrid solutions globally within their broader electrification strategies, Magna has secured its first award for a Dedicated Hybrid Drive (DHD) Duo system with a leading Chinese OEM. This recognition underscores Magna's commitment to innovation and sustainability, as well as the company’s flexible approach to supplying power to wheels.

AURORA, Ontario, Nov. 05, 2024 (GLOBE NEWSWIRE) -- Magna International Inc. (TSX: MG, NYSE: MGA) today announced the termination of its existing Normal Course Issuer Bid effective since February 15, 2024 (the “Prior NCIB”) and the Toronto Stock Exchange ("TSX") has accepted its Notice of Intention to establish a new Normal Course Issuer Bid (the "Notice"). Pursuant to the Notice, Magna may purchase up to 28,500,000 Magna Common Shares (the "New NCIB"), representing approximately 10% of its public float. As at October 31, 2024, Magna had 287,342,204 issued and outstanding Common Shares, including a public float of 286,960,792 Common Shares.

AURORA, Ontario, Nov. 01, 2024 (GLOBE NEWSWIRE) -- Magna International Inc. (TSX: MG; NYSE: MGA) today reported financial results for the third quarter ended September 30, 2024.

AURORA, Ontario, Oct. 29, 2024 (GLOBE NEWSWIRE) -- Magna is accelerating the industry’s move toward a cleaner future with the debut of its innovative Dual Clutch Transmission Eco (DCT Eco) solution for a European OEM. This contract marks the first high-volume award for the new transmission family and supports various models in global markets with ICE transmissions.

AURORA, Ontario, Sept. 30, 2024 (GLOBE NEWSWIRE) -- Magna International Inc. (TSX:MG) (NYSEMGA)

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AURORA, Ontario, Aug. 09, 2024 (GLOBE NEWSWIRE) -- Magna International Inc. (TSX: MG; NYSE: MGA) today reported that it has received notice of an unsolicited mini-tender offer made by TRC Capital Investment Corporation (“TRC Capital”) to purchase up to 2,000,000 Magna Common Shares, or less than 1% of Magna’s outstanding Common Shares, at a price of CDN $57.90 per share. Magna cautions shareholders that the mini-tender offer has been made at a price below recent market prices, representing a discount of 4.49% to the closing price of Magna’s Common Shares on the Toronto Stock Exchange (“TSX”) on July 29, 2024, the last trading day before the mini-tender offer commenced. Although the offering price represents a premium of 7.58% to yesterday’s closing price of Magna Common Shares on the TSX of CDN $53.82, the offer is highly conditional. TRC Capital’s offer states that it may withdraw its offer if, among other things, the market price of Magna Common Shares falls below CDN $57.58, for reference, the closing price on the TSX for Magna Common Shares on August 8, 2024, was CDN $53.82, which is already below this threshold; additionally, TRC Capital’s offer is not fully funded and is conditioned upon receipt of necessary financing on terms it deems reasonable in its sole discretion.

AURORA, Ontario, Aug. 02, 2024 (GLOBE NEWSWIRE) -- Magna International Inc. (TSX: MG; NYSE: MGA) today reported financial results for the second quarter ended June 30, 2024.

AURORA, Ontario, July 02, 2024 (GLOBE NEWSWIRE) -- Magna International Inc. (TSX:MG) (NYSEMGA) 

AURORA, Ontario, June 18, 2024 (GLOBE NEWSWIRE) -- For more than 65 years, Magna has helped redefine the very concept of consumer experience and design in the vehicle. Today, the company has further advanced traditional in-cabin vehicle design with its first awarded contract to deliver a reconfigurable seating system to a Chinese OEM. This innovative technology offers fully rotating front seats paired with long rails, enabling a flexible layout for more in-cabin space.

AURORA, Ontario, May 09, 2024 (GLOBE NEWSWIRE) -- Magna International Inc. (TSX: MG; NYSE: MGA) today announced voting results from its 2024 annual meeting of shareholders held on May 9, 2024. A total of 230,328,916 Common Shares or 80.18% of our issued and outstanding Common Shares were represented in person or by proxy at the meeting. Shareholders voted in favour of each item of business, as follows:

AURORA, Ontario, May 03, 2024 (GLOBE NEWSWIRE) -- Magna International Inc. (TSX: MG; NYSE: MGA) today reported financial results for the first quarter ended March 31, 2024.

AURORA, Ontario, April 30, 2024 (GLOBE NEWSWIRE) -- Magna was named a 2024 Automotive News PACE Award winner and received multiple PACEpilot Innovation to Watch recognitions at the awards ceremony on April 29th. The prestigious PACE Award recognizes automotive suppliers for superior innovation, technological advancement, and business performance, while the PACEpilot acknowledges post-pilot, pre-commercial innovations in the automotive and future mobility space. Magna was the only company to receive both a PACE Award and multiple PACEpilot Innovation to Watch recognitions.

AURORA, Ontario, April 15, 2024 (GLOBE NEWSWIRE) -- Magna International Inc. (TSX:MG) (NYSEMGA) 

AURORA, Ontario, March 28, 2024 (GLOBE NEWSWIRE) -- Magna International Inc. (TSX: MG; NYSE: MGA) today announced that its 2023 Annual Report, including Management’s Discussion and Analysis and Audited Consolidated Financial Statements, Annual Information Form (AIF) and Form 40-F, are now available on the company’s website, www.magna.com. Magna has also filed these documents with the Canadian Securities Administrators (accessible through its website at www.sedarplus.ca) and the U.S. Securities and Exchange Commission (accessible through its website at www.sec.gov/edgar).

AURORA, Ontario, March 05, 2024 (GLOBE NEWSWIRE) -- Magna International Inc. (TSX: MG; NYSE: MGA) today announced that it has entered into an underwriting agreement in respect of the offering of U.S.$400 million aggregate principal amount of senior unsecured notes due 2029 (the “notes”). The notes will bear interest at an annual rate of 5.050% and will mature on March 14, 2029.

DETROIT, March 05, 2024 (GLOBE NEWSWIRE) -- General Motors (GM), global automotive supplier Magna, and leading technology services and consulting company Wipro Limited, have teamed up to develop a B2B sales platform for buying and selling automotive software. The platform, called SDVerse, aims to revolutionize the automotive software sourcing and procurement process by providing a matchmaking platform for buyers and sellers of embedded automotive software.

AURORA, Ontario, Feb. 13, 2024 (GLOBE NEWSWIRE) -- Magna International Inc. (TSX: MG, NYSE: MGA) today announced that the Toronto Stock Exchange ("TSX") had accepted its Notice of Intention to Make a Normal Course Issuer Bid (the "Notice"). Pursuant to the Notice, Magna may purchase up to 300,000 Magna Common Shares (the "Bid"), representing approximately 0.11% of its public float. As at February 1, 2024, Magna had 286,780,238 issued and outstanding Common Shares, including a public float of 286,433,600 Common Shares.

In a release issued under the same headline on Friday, February 9th by Magna International Inc. (TSX: MG; NYSE: MGA), please note that some of the information in the Consolidated Statements of Cash Flows and Supplemental Data tables has been updated. The corrected release follows:

Fourth Quarter 2023 Highlights

AURORA, Ontario, Feb. 06, 2024 (GLOBE NEWSWIRE) -- Magna is growing its electrification customer base with a newly awarded contract from a North America-based OEM to supply a specialized primary rear eDrive system for one of the company’s high-end niche vehicle platforms. The award reinforces Magna’s commitment to supporting the automotive industry’s short and long-term transformational needs.

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AURORA, Ontario, Jan. 16, 2024 (GLOBE NEWSWIRE) -- Magna International Inc. (TSX:MG) (NYSEMGA)

AURORA, Ontario, Jan. 09, 2024 (GLOBE NEWSWIRE) -- As CES 2024, one of the world’s largest and most powerful tech events, opens its doors, Magna is off to an electrifying start with the global unveiling of its next generation 800V eDrive solution that sets new standards in efficiency, power-to-weight ratio and torque density.