DETROIT — BorgWarner Inc. has completed its acquisition of Delphi Technologies in an all-stock transaction that puts Delphi's enterprise value at about $3.2 billion.
The union of BorgWarner, a supplier of turbochargers and electric motors based in Auburn Hills, Mich., and Delphi, a powertrain and aftermarket parts supplier headquartered in London, is intended to better position the two companies for the long-anticipated industry shift toward electrification.
BorgWarner announced the close Friday.
The deal will strengthen BorgWarner's "electronics and power electronics products, capabilities and scale, creating a leader in electrified propulsion systems that BorgWarner believes is well-positioned to take advantage of future propulsion migration," the company said in a statement.
The merged company will be owned 85 percent by BorgWarner shareholders and 15 percent by Delphi shareholders.
Shares of BorgWarner closed Friday's trading down nearly 1 percent to $39.20.