Cowen Says Qualcomm. NXP Semi Headlines Consistent with Views (QCOM) (NXPI)
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The firm commented,
While a deal is not certain, a series of headlines ... regarding price and structure are very consistent w/our pro-forma assumptions; e.g. a 75%+ cash deal that is ~20-25% accretive at ~$115-120/share w/$750MM synergies and the PF company ~2.5x levered on C2018 on a gross basis. Integration of a fabless and integrated producer is far from trivial, but this would be transformational for QCOM.
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