Qualcomm Inc. and its advisors are trying to determine a price at which to acquire 80% of shares of NXP Semiconductors NV based in the Netherlands, sources told CNBC. Qualcomm’s advisors at Goldman Sachs are talking with large holders of NXP to work out the price that would nudge them into supporting the deal worth more than $40 million, the report added. Sources said the price was “the low $120’s.”
Qualcomm and NXP Semi reached a deal a year and a half ago for Qualcomm to pay $110 a share for NXP but then many of its shareholders decided the company would be worth more independent. Under Dutch law NXP's purchase is structured as a tender offer requiring at least 80 percent of the shares be purchased by Qualcomm in order for it to take control. Since a majority of stock is held by hedge funds, Qualcomm now has to increase the price it is willing to pay in order to get the shares.
