UPDATE: Qualcomm (QCOM), NXP (NXPI) Less Than 10% Apart on Price - Bloomberg

October 6, 2016 2:05 PM EDT

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(Updated - October 6, 2016 2:11 PM EDT)

Qualcomm (Nasdaq: QCOM) is making progress toward an agreement to acquire NXP Semiconductors (Nasdaq: NXPI), according to Bloomberg sources. Qualcomm is the only company in talks to acquire NXP and there is a valuation gap of less than 10%, the report said. Qualcomm may structure the deal as 75% cash and 25% stock, though NXP would prefer all cash.

NXP is pushing for $120 per share, while Qualcomm is targeting a price closer to $110.

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