Fewer NXP Shareholders Tender Shares in Qualcomm Deal
March 23 2018 - 8:38AM
Dow Jones News
By Austen Hufford
Fewer shareholders of NXP Semiconductors NV (NXPI) have tendered
their shares for a takeover by Qualcomm Inc. (QCOM).
In February, Qualcomm raised its bid to $44 billion and locked
in key support from stakeholders.
Still, completing the purchase requires at least 70% of shares
tendered. As of Thursday, the percentage of shares tendered was
15.1%, down from about 16.5% earlier in the month but up from about
1.5% of in early February.
Qualcomm also said Monday that it is, again, extending the
length of its tender offer to buy NXP Semiconductors NV.
The offer will now expire April 2 at 5 p.m., the company
said.
The deal was announced in 2016 and its length has been extended
numerous times. The offer was previously slated to end Friday.
Broadcom Ltd. (AVGO) withdrew its takeover of Qualcomm this
month due to Trump administration pressure.
Write to Austen Hufford at Austen.Hufford@wsj.com
(END) Dow Jones Newswires
March 23, 2018 08:23 ET (12:23 GMT)
Copyright (c) 2018 Dow Jones & Company, Inc.
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