Magna International Inc.’s Magna Steyr Group and Tesma International Inc. cease merger talks following Magna Steyr’s move to acquire DaimlerChrysler AG’s Eurostar assembly plant in Graz, Austria. That deal will be completed in July. Magna and Tesma still plan to cooperate through resource and expertise sharing. Valeo SA wants to create two wholly owned subsidiaries for its clutches and friction materials activities, part of the supplier’s transmission branch. The plan has been submitted ...

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