Tuesday, February 20, 2018

Qualcomm Boosts Bid For NXP To $127.50 Per Share

San Diego-based Qualcomm has upped its offer for fellow semiconductor developer NXP Semiconductor N.V., saying that it has increased its offer to $127.50 in cash per share for NXP. Qualcomm had previously offered $110.00 per share in cash to acquire NXP. The bid raises Qualcommm's offer for NXP to a total of $44.0 billion. Qualcomm said that, as a result of the upped bid, it has now entered into a binding agreement with nine NXP stockholders owning more than 28 percent of NXP's outstanding shares to tender their shares at that price, including funds affiliated with Elliott Advisors (UK) Limited and Soroban Capital Partners LP.