To avoid being bought by its competitor Broadcom, despite a new offer at more than 80 dollars per share, the group Qualcomm is ready for anything, even to increase his own proposal to buy back NXP Semiconductors, a European semiconductor player that would allow it to strengthen its position in the juicy market of on-board electronics in vehicles.
The San Diego firm has just raised its proposal to buy NXP to $ 44 billion, against 39 billion dollars previously, officially to secure the support of shareholders in this transaction.
At 110 dollars per share currently, the offer is considered too low by some influential shareholders, who would like at least 135 dollars per share.
By climbing to $ 127.50 per share, Qualcomm's new proposal is approaching this position, which could provide it with the minimum support required to complete the transaction.
But, note it Wall street journal, it is also probably a maneuver intended to brake Broadcom intending to buy Qualcomm for $ 121 billion.
The latter had indeed indicated that it could abandon its attempted acquisition if Qualcomm outbid its offer on NXP. Note also that Qualcomm's decision comes only a few days after a meeting with representatives of Broadcom to try to find common ground.