(Reuters) - Auto parts maker BorgWarner Inc (>> BorgWarner Inc.) said it would buy Remy International Inc (>> Remy International Inc), a maker of electric and hybrid motors, for about $1.2 billion (772.3 million pounds) in cash, including debt.

BorgWarner's offer of $29.50 per share represents a premium of 44 percent to Remy's closing price of $20.53 on Friday.

The deal, expected to close in the fourth quarter of 2015, will add to earnings in the first year after the close, BorgWarner said.

(Reporting by Ankit Ajmera; editing by Saumyadeb Chakrabarty)

Stocks treated in this article : BorgWarner Inc., Remy International Inc