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7 Undervalued Stocks That Could Soar in 2021 Swamy Kotagiri, president and incoming CEO of Magna International, said this about the news boosting MGA stock today.
Magna (MGA) closed the most recent trading day at $92.60, moving +0.97% from the previous trading session.
The stock of Magna International (NYSE:MGA, 30-year Financials) appears to be significantly overvalued, according to GuruFocus Value calculation.
Magna made offers to the boards of the three companies, with an expected total cost to Magna of CA$1.3 billion (equivalent to $2 billion in 2023) in cash and Magna shares, to privatize the companies within Magna International. [28] The three privatizations were completed in February (Tesma and Decoma) [29] [30] and April (Intier) of 2005. [31]
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In March 2000, Magna International distributed shares in its new division to its current stockholders, establishing MEC as a separate public company. [3] Magna Entertainment filed for Chapter 11 bankruptcy. The Stronach Group entered the horse racing industry by purchasing Magna Entertainment Corporation's former holdings from MI Developments. [4]