February 20, 2018 / 11:11 AM / a year ago

Qualcomm to raise offer to buy NXP - WSJ

Feb 20 (Reuters) - U.S. chipmaker Qualcomm Inc raised its offer to buy NXP Semiconductors NV to $127.50 per share from $110, after being pressured by shareholders led by activist hedge fund Elliott Management Corp, the Wall Street Journal reported, citing people familiar with the matter.

The raised offer valued NXP at $44 billion, and the higher offer could come as soon as this week, the paper reported. (on.wsj.com/2EUFXzs)

Broadcom Ltd, which is seeking to buy Qualcomm for $121 billion, had said its offer was contingent on either Qualcomm buying NXP at $110 per share or the deal being terminated.

Reporting by Supantha Mukherjee in Bengaluru

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