While Qualcomm has planned on buying NXP for over a year, NXP shareholders were a bit disappointed by Qualcomm’s initial price.
Qualcomm just raised its bid and is now willing to pay $127.50 per share instead of $110 per share.
By closing this acquisition, Broadcom has to pause for a second and think again about acquiring Qualcomm.
A group of NXP shareholders led by hedge fund Elliott Management have already agreed to the new terms.
NXP manufactures a bunch of different chips, but there’s one area that is particularly interesting.
Qualcomm plans to get serious about the automotive space thanks to NXP chips.