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Thursday, February 14, 2013

BorgWarner sees M&A 'extremely active' but closing deals tough, (NYSE: BWA)

Merger and acquisitions activity remains high in the auto industry, but it has become more difficult to finalize deals in the tougher economic environment, the chief financial officer of auto parts supplier BorgWarner Inc said on Thursday. Still, deal-making is the company's top priority and M&A business is "extremely active," Chief Financial Officer Ron Hundzinski said during a conference call with analysts.

BorgWarner Inc. is a global supplier of engineered automotive systems and components primarily for powertrain applications. Shares of BWA traded higher by 0.68% or $0.51/share to $75.68. In the past year, the shares have traded as low as $60.17 and as high as $87.45. On average, 1124530 shares of BWA exchange hands on a given day and today's volume is recorded at 745240.