Magna International Inc. announces a C$1.3 billion ($1.1 billion) plan to take its three automotive component units, Decoma International Inc., Tesma International Inc. and Intier Automotive Inc., private. Magna has made proposals to each unit to purchase the remaining shares it does not already own. Magna also says it no longer will pursue a spin-off of its Magna Steyr auto assembly unit. Magna, which expects its plan to close by January, says the privatization of the units would make it ...
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