Qualcomm to raise offer to buy NXP: WSJ
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February 20, 2018Qualcomm raises offer for NXP to $127.50/share
February 20, 2018This post was originally published on this site
(Reuters) – U.S. chipmaker Qualcomm Inc raised its offer to buy NXP Semiconductors NV to $127.50 per share from $110, after being pressured by shareholders led by activist hedge fund Elliott Management Corp, the Wall Street Journal reported, citing people familiar with the matter.
The raised offer valued NXP at $44 billion, and the higher offer could come as soon as this week, the paper reported.
Broadcom Ltd, which is seeking to buy Qualcomm for $121 billion, had said its offer was contingent on either Qualcomm buying NXP at $110 per share or the deal being terminated.
Reporting by Supantha Mukherjee in Bengaluru
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