According to sources, Qualcomm consultants, Goldman Sachs, contacted big shareholders of NXP last Friday to try to figure out at what price those shares are willing to sign the voting agreement.
Although no specific price was given, it was revealed that QUALCOMM's advisors proposed the possibility of a deal "below $ 120." Both sides made a call on Friday night and Saturday, but then there was no progress. Showed little progress towards a satisfactory price, and on Friday, NXP closed at $ 118.50 on the Nasdaq.
This is the first time in a few months that Qualcomm has tried to find out what price NXP's big shareholders are willing to accept Qualcomm had previously proposed a cash-for-all deal with a total transaction size of more than 40 billion U.S. dollars, About 16 months after NXP was acquired for $ 110 a share, many of the latter's shareholders are of the opinion that NXP will be even more valuable if it remains independent, thanks in part to NXP's strong fundamentals, On the one hand the semiconductor industry earnings multiples also increased.
NXP's major holdings are held by hedge funds such as Elliott Management, Davidson Kempner, Och Ziff, Soroban Capital, Pentwater and DE Shao, etc. Qualcomm was previously forced to admit that it will not get enough stock unless it raises its quoted price To complete the transaction.
Earlier Elliott had said publicly that NXP's price of at least 135 US dollars per share, but other major shareholders may accept 125 to 130 US dollars per share price.
Qualcomm is still studying how to complete the acquisition of NXP, but also to resist Broadcom $ 82 per share in cash and stock acquisition of the company's plan.