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CNBC confirms QCOM chair seeks leveraged buyout; NXP bid heads wrong way

Mar. 16, 2018 9:34 AM ETQUALCOMM Incorporated (QCOM) StockQCOM, NXPIBy: Brandy Betz, SA News Editor65 Comments
  • CNBC sources confirm FT’s story that former Qualcomm (NASDAQ:QCOM) chairman Paul Jacobs wants to take the company private.
  • Jacobs sent a letter to the board to express this wish and noted that he’d been interested in doing this once before.
  • CNBC source: “I think [Jacobs] snapped.”
  • In other Qualcomm news, the company once again extended its deadline for the acquisition of NXP Semiconductors (NXPI -0.1%). The new extension expires March 23. 
  • Qualcomm notes in the press release that 56,605,079 NXP shares or about 16.5% of outstanding NXP shares have been tendered. That’s down from last week’s reported 65,276,925 or 19% of outstanding shares.   
  • Qualcomm shares are up 1.5% to $60.77.    
  • Previously: FT: Former Qualcomm chairman seeks funding for leveraged buyout (March 15)

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