Deals
Qualcomm Stock Surges on Report of Interest in Acquiring NXP
- NXP would allow Qualcomm to diversify away from smartphones
- Target is largest maker of semiconductors used in cars
Inside Qualcomm's M&A Strategy to Acquire NXP
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Qualcomm Inc. stock jumped as much as 8.5 percent on a report that it’s considering purchasing NXP Semiconductors NV in a deal that would be valued at about $30 billion.
Shares of NXP, the biggest maker of chips used in the automotive industry, also rallied as much as 19 percent after the Wall Street Journal reported that the companies are in talks to combine. NXP’s stock jump was the biggest intraday gain in almost six years. The deal could happen in the next three months and Qualcomm also is exploring other potential transactions, the report said.