Qualcomm Tender Offer For NXP Loses Shares -- Market Talk
March 23 2018 - 1:50PM
Dow Jones News
13:20 ET - Qualcomm's tender offer for Dutch automotive-chip
specialist NXP Semiconductors NV is losing shares as the deal
awaits approval by Chinese antitrust authorities, its final
regulatory hurdle. The San Diego chip maker on Friday extended its
tender offer, reporting that the percentage of tendered shares had
slipped to 15.1% from 16.5% last week and 19% the week before.
Completing the purchase is a high priority for Qualcomm, which
expects NXP to open doors in markets for automotive, security and
connected devices that it expects to be worth a total $77B by 2020.
Qualcomm last month raised its bid to $44B from $39B and lowered
the bar for tendered shares to 70% from 80%.
(ted.greenwald@wsj.com)
(END) Dow Jones Newswires
March 23, 2018 13:35 ET (17:35 GMT)
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