Veoneer announces planned merger closing date, names future CEO

Mar. 24, 2022 5:25 AM ETVeoneer, Inc. (VNE)By: Khyathi Dalal, SA News Editor
  • Veoneer (NYSE:VNE) trades 2.1% higher premarket after it announced that in relation to the earlier announced merger agreement among Veoneer, SSW Holdco, SSW Merger Sub Corp, and Qualcomm, the partieshave agreed to Apr.1, 2022 merger closure.
  • On merger closure, VeoSneer's new owners, SSW, plan to appoint Jacob Svanberg, currently SVP, Lidar Product Area and Corporate Development, as Veoneer's new CEO.
  • Jan Carlson, who has been the company's Chairman, President & CEO since its inception in 2018, will leave his operational and Board roles in Veoneer, and be appointed Advisor to the Board and CEO.
  • The last day of trading of common stock on NYSE and SDRs on Nasdaq Stockholm is expected to be Mar.31, 2022 and delisting of the SDRs is expected to occur on Apr.4, 2022.
  • Veoneer holders will be entitled to receive the full $37/share and holders of Veoneer SDRs will be entitled to the corresponding amount in SEK per SDR.

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