NXP to repurchase $5 billion shares after Qualcomm deal falls through
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Go back to NXP to repurchase $5 billion shares after Qualcomm deal falls through
July 26, 2018 8:38 AM EDT
RBC Capital raised its price target on Qualcomm (NASDAQ: QCOM) to $72.00 (from $70.00) while maintaining an Outperform rating following results.
Analyst Amit Daryanani commented, "QCOM delivered solid results and guidance, and more importantly provided better clarity on capital management."
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July 26, 2018 6:01 AM EDT
Qualcomm Incorporated (NASDAQ: QCOM) ("Qualcomm" or "the Company") today announced the termination of the acquisition of NXP Semiconductors N.V. (NASDAQ: NXPI) ("NXP") by Qualcomm River Holdings B.V., an indirect wholly owned subsidiary of Qualcomm, effective immediately. In accordance with the terms of the purchase agreement, Qualcomm River Holdings will pay a termination fee of $2 billion to NXP on July 26, 2018. In connection with this termination, Qualcomm River Holdings has terminated its previously announced cash tender offer to acquire all of the outstanding shares of NXP.
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