Items tagged with (nasdaq:nxpi)

Qualcomm on Tuesday increased its bid to buy NXP Semiconductors, agreeing to pay $127.50 for each share of the Dutch chipmaker. The revised amount is 16 percent higher than what Qualcomm originally proposed last October, which at the time stood at $110 per share. Qualcomm's amended agreement is an aggressive move that is seen in part as a strategy to fend off an hostile takeover by Broadcom. "NXP is a highly strategic and attractive acquisition for Qualcomm that enhances the value of our leading 5G technologies. We also believe the revised agreement provides certainty for both Qualcomm and NXP stockholders," said Dr. Paul E. Jacobs, Chairman of the Board of Qualcomm. Tom Horton, Qualcomm's presiding... Read more...
Mobile chip maker Qualcomm has inked a definitive agreement to purchase NXP Semiconductors in a deal valued at around $47 billion. The board of directors of both companies gave unanimous approval for the acquisition, which will see Qualcomm buy all of NXP's stock at $110 per share, an 11.5 percent premium over NXP's closing price on Wednesday. Should the deal receive regulatory approval, Qualcomm will be in position to become a major player in the fast growing connected car market. NXP is a leading chip maker in the automotive industry with mixed-signal semiconductor solutions for in-vehicle infotainment, networking, and safety systems. The company's products are found in 14 of the top 15 infotainment... Read more...