Qualcomm Announces Agreement to Acquire NXP for $127.50; Maintaining $75 FVE for Qualcomm
On Feb. 20, Qualcomm reached an agreement with NXP Semiconductors to raise its bid for NXP to about $44 billion, or $127.50 per share. We had been expecting Qualcomm to do so, as NXP has outperformed since the initial deal announcement in 2016, with NXP shares recently trading around $118 versus the original $110 deal price. While Qualcomm still requires approval from Chinese regulators, its increased bid does not deter our positive view on the strategic tie-up with NXP, particularly in automoti...
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