Delphi Shares Soar 15% After Buyout Terms Are Amended

Shares of Delphi Technologies (NYSE: DLPH), a leading global supplier of products and solutions to the automotive and commercial vehicle market, jumped 15% Wednesday morning after the company reached an agreement with BorgWarner (NYSE: BWA) to amend terms of their buyout deal. Investors may recall BorgWarner's previous assertion that Delphi Technologies breached the original transaction agreement, which they entered into on Jan. 28, when it drew down on its $500 million revolving credit facility. As of today, the two companies have amended certain terms of the deal, and BorgWarner will acquire Delphi in an all-stock transaction.