Sevcon to be bought by BorgWarner at $22/share

|About: BorgWarner Inc. (BWA)|By:, SA News Editor

Sevcon (NASDAQ:SEV) agrees to be acquired by BorgWarner (NYSE:BWA) in a deal valued at ~$200M, including debt; shares are halted.

BWA would acquire SEV for $22/share in cash, a 61% premium to Friday's closing price, and convertible preferred shares.

SEV designs and sells motor controllers for zero emission electric and hybrid vehicles.