Qualcomm: Veoneer ready to begin talks

(CercleFinance.com) - Veoneer said on Sunday that it plans to enter into discussions with Qualcomm after the latter launched a counter-offer for the Swedish car security specialist last week.


The US wireless technology giant announced on Thursday that it intends to launch a takeover bid for Veoneer at a price of 37 dollars per share, above Magna's previous offer of 31.25 dollars.

In a statement, Veoneer said that its merger agreement with Magna is still on the cards.

For the record, the Stockholm-based group would have to pay 110 million dollars in compensation if it were to break off its engagement with Magna.

Veoneer's share price has risen by over 81% YTD and it current has a market capitalisation of over 4.3 billion dollars.


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