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Qualcomm: extends offer for outstanding NXP shares

(CercleFinance.com) - While being approached by its peer Broadcom, US mobile chip designer Qualcomm has extended its cash offer for all outstanding shares of rival NXP Semiconductors until 23 February from 9 February, it said in a statement on Friday.

As a reminder, at least 80% of NXP's outstanding shares have to be tendered for the deal to go ahead, a percentage that may be lowered to 70%.

The tender offer began on 18 November 2016.

Qualcomm said the transaction is still expected to close in early 2018.

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