Magna International Inc. has agreed to acquire Veoneer, an American Swedish provider of automotive technology, for $3.8 billion. The transaction, announced July 22, is expected to close by the end of 2021. Aurora, Canada-based Magna was advised by Sidley Austin. Veoneer, which is based in Stockholm, was represented by Skadden, Arps, Slate, Meagher & Flom. Sullivan & Cromwell represented the financial advisers to Veoneer, which was Rothschild & Co.

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Read the press release here.