BorgWarner recommends shareholders reject mini-tender offer

BorgWarner “announced that it has received notice of an unsolicited mini-tender offer by TRC Capital Investment Corporation of Ontario, Canada, to purchase up to 4 million shares of BorgWarner common stock at a price of $28.80 per share in cash. TRC Capital Investment’s offer price of $28.80 per share represents a 4.51% discount below BorgWarner Inc.’s closing price on February 20, 2024, the last trading day before the offer commenced. The offer is for approximately 1.74% of the shares of common stock outstanding at December 31, 2023.”