said Friday it was extending its cash tender offer for NXP Semiconductor N.V.’s outstanding shares
for at least the 27th time over the past 16 months. Qualcomm shares edged up 0.5% in premarket trade, while NXP’s stock tacked on 0.1%. The expiration was extended to 5:00 p.m. ET on July 6, from the previous expiration of 5:00 p.m. on June 29. The tender offer is in accordance with the merger agreement dated Oct. 27, 2016. The first extension of the tender offer was announced on Feb. 6, 2017. Qualcomm said it will continue to extend the tender offer until all conditions are satisfied or waived, or until the offer is terminated. Earlier this month, a report in the South China Morning Post said Chinese regulators had approved Qualcomm’s acquisition of NXP. Qualcomm’s stock has edged up 0.9% over the past three months through Thursday, while NXP shares have lost 5.8%, the PHLX Semiconductor Index
has slipped 1.3% and the S&P 500
has gained 2.9%.
View more information: https://www.marketwatch.com/story/qualcomm-extends-tender-offer-for-nxp-shares-for-at-least-the-27th-time-2018-06-29