Positive Results for US Listed Target

Mourant worked with BorgWarner Inc. in relation to its acquisition of Delphi Technologies PLC, a Jersey company listed on the New York Stock Exchange, focussed on developing propulsion products and systems across combustion, hybrid and electric vehicles. The all-stock transaction valued Delphi at around US$3.3 billion and combined two major auto parts makers.

26 August 2022

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The Client

BorgWarner Inc. in relation to its acquisition of Delphi Technologies PLC, a Jersey company listed on the New York Stock Exchange, focussed on developing propulsion products and systems across combustion, hybrid and electric vehicles. The all-stock transaction valued Delphi at around US$3.3 billion and combined two major auto parts makers.

The Challenge

Advising in respect of a US-listed target acquired using a Jersey scheme of arrangement for the first time.

Solution

Mourant has seen a number of landmark moments in the corporate sector over the past eight decades. The Lawyer’s 2020 Offshore Law Firm of the Year is still breaking new ground.

The transaction for this client was implemented by a Jersey court sanctioned scheme of arrangement.

Mourant provided Jersey legal advice on all aspects of the acquisition, working alongside New York Counsel.

Results

This is just one of a number of schemes of arrangement the Mourant corporate team has advised on. Other recent examples include the largest ever outbound M&A deal by a Japanese company, the takeover of Shire plc by Takeda Pharmaceutical Company Ltd. That deal was worth US$62 billion confirming Mourant’s position as expert advisers on significant cross border corporate matters.