Qualcomm Raises Offer to Buy NXP Semiconductors
US chipmaker Qualcomm raised its offer to buy NXP Semiconductors NV to $127.50 (roughly Rs. 8,265) per share on Tuesday, and said it now has the backing of the shareholder group led by Elliott Management that opposed the previous proposal. Qualcomm said it needs to buy a minimum 70 percent of NXP’s outstanding shares in a tender offer, instead of the 80 percent required in the earlier agreement. The latest offer values NXP at $44 billion (roughly Rs. 2.85 lakh crores). NXP’s shares were up 6.5 percent at $126.15 in premarket trading. The stock has…
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