Qualcomm Nears $37Bn Deal to Buy NXP Semiconductors: Source
Qualcomm is nearing a deal to acquire NXP Semiconductors for around $37 billion, a person familiar with the matter said on Friday, as the U.S. company seeks to expand the reach of its chips from phones to cars.
The deal would make San Diego-based Qualcomm, which supplies Android smartphone makers and Apple, a bigger supplier to the automotive industry as it grapples with slowing smartphone sales and stiff competition from Chinese and Taiwanese rivals.
The acquisition of NXP by Qualcomm for $110 per share in cash could be announced within days, although there is always a possibility of a last-minute glitch, the source said, asking not to be identified because the negotiations are confidential.
NXP shares dropped 2.5% on the news to $101.90, while Qualcomm shares were up 2.2% to $68...