Today, 6:44 PM
- With the help of a very big deal -- AT&T's (NYSE:T) $85B offer for Time Warner (TWX -0.9%) -- companies have set a monthly record for merger and acquisition activity.
- Firms have agreed to M&A valued at more than $251B this month, Dealogic says. That surpasses a previous record month, July 2015, at $240B. The tech sector (signified most recently by Qualcomm's (QCOM -2.4%) $39B deal for NXP Semiconductors (NXPI +0.7%)) has accounted for a fourth of U.S.-targeted deals and 19% by value, just ahead of healthcare.
- Last week was especially hot, with $177B in activity (itself a record for an M&A week).
Yesterday, 6:52 AM
- Qualcomm (NASDAQ:QCOM) has agreed to buy NXP Semiconductors (NASDAQ:NXPI) in a deal that values the chip maker at $110 a share, or $47B, including debt, as it seeks to expand the reach of its chips from phones to cars.
- The combined company is expected to have annual revenues of more than $30B, serviceable addressable markets of $138B in 2020 and leadership positions across mobile, automotive, IoT, security, RF and networking.
- QCOM +2.1%; NXPI +3.2% premarket
Wed, Oct. 26, 10:55 PM
Tue, Oct. 25, 5:35 PM
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Fri, Oct. 21, 9:52 AM| Fri, Oct. 21, 9:52 AM | 58 Comments
Thu, Oct. 20, 3:02 PM
- Qualcomm and NXP Semiconductors (NASDAQ:NXPI) were considered to be off by less than 10% regarding valuation two weeks ago.
- Bloomberg's now reporting a deal may be announced sometime next week.
- Qualcomm (NASDAQ:QCOM) shares higher by 2.25% on the day, 1.85% of which has been realized over the last ten minutes.
- Update: All-cash deal under consideration, disclosure before Qualcomm's November 2 earnings suggested.
Thu, Oct. 6, 2:36 PM
- Bloomberg notes NXP Semiconductors (NXPI +1.6%) and Qualcomm (QCOM +1.5%) are off by less than 10% in terms of valuation.
- Deal structure of 75% cash, 25% stock cited as preferred by Qualcomm with an all cash deal preferred by NXP. Qualcomm looking at $110 per share, NXP at $120.
- Qualcomm considered only takeover-interested party to be involved.
- Development is notable with the situation reportedly not imminent just hours ago.
Thu, Oct. 6, 10:03 AM
- Discussions with Qualcomm (QCOM) reportedly remain ongoing, though a deal is not considered to be imminent.
- A $120 level would be in line with earlier models out of Bernstein.
- NXP Semiconductors (NASDAQ:NXPI) is trading mostly unmoved (-0.70) on the report, though is up more than 23% since news Qualcomm was interested in a takeover first broke.
Fri, Sep. 30, 10:22 AM
- RBC Capital Markets analyst Amit Daryanani notes a deal would mark a good use of cash for Qualcomm, increase its portfolio diversity, allow it to leverage IoT plans into automotive and other sectors and potentially offer material accretion over upcoming years. On the other end, Daryanani points out some concerns for Qualcomm relating to debt position and integrations of NXP Semiconductors stemming from the latter's recently closed Freescale merger.
- Bernstein's Stacy Rasgon and Jefferies' Mark Lipacis comment on potential buyout prices, offering respective approximate $120 and $136-$172 ranges.
- NXP Semiconductors (NXPI +7.1%) is trading higher by around 25% since mid-day yesterday while Qualcomm (QCOM +2.9%) is up over 10% on the same term.
Thu, Sep. 29, 3:00 PM
Thu, Sep. 29, 1:17 PM
Fri, Sep. 16, 1:44 PM
- While already anticipated, Intel (INTC +2%) components are now confirmed to be installed within certain iPhone 7 configurations. Two Intel RF transceivers, a baseband modem and RF power management ICs are noted.
- Modems, transceivers and power management ICs provided by Qualcomm (QCOM +0.2% ) are also confirmed to be utilized in other device variations. Qualcomm had historically maintained an exclusive provider position of modem components for previous iPhone iterations.
- Supplies from Skyworks Solutions (SWKS -1.9%), Cirrus Logic (CRUS -1.8%), Samsung Electronics (OTC:SSNLF), Taiwan Semiconductor Manufacturing Company (TSM -0.7%), NXP Semiconductors (NXPI -2.2%), Broadcom (AVGO -1.3%), Qorvo (QRVO -2.4%), Texas Instruments (TXN -0.5%), Toshiba (OTCPK:TOSBF +4.4%), Lattice Semiconductor, (LSCC -0.6%), Dialog Semiconductor (OTC:DLGNF), SK Hynix (OTC:HXSCF) and other makers also so far validated.
Fri, Aug. 19, 11:43 AM
- The chip sector is hot but no name is hotter than Advanced Micro Devices (AMD +10.9%). The company has been gradually rising since last August and has really hit its stride since returning to Y/Y revenue growth for the first time since 2014 in Q2.
- The only company remotely in the ballpark of this type of growth is Nvidia (NVDA +0.4%) with a now 170% increase over the last year.
- Comparably, Intel Corporation (INTC +0.5%) is up slightly over 23%, Micron Technology (MU +3.7%) around 2%, Applied Materials (AMAT +6.7%) nearly 80%, Analog Devices (ADI +0.4%) around 10%, ARM Holdings (ARMH -0.8%) around 56%, Linear Technology (LLTC +0.1%) around 46%, NXP Semiconductors (NXPI +1.2%) around 2%, Marvell Technology (MRVL +3.9%) slightly over 1%, Qualcomm (QCOM -0.4%) around 2.5%, Broadcom (AVGO +0.5%) around 26% and Texas Instruments (TXN +0.3%) around 43% for the same period.
- Advanced Micro Devices shares continues to increase following this week's operational-reveal of the company's highly anticipated Zen-core processors.
Wed, Jul. 27, 8:17 PM
Tue, Jul. 26, 5:35 PM
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Mon, Jun. 13, 6:45 PM
- A Chinese consortium featuring JAC Capital and Wise Road Capital is buying NXP's (NASDAQ:NXPI) Standard Products unit for $2.75B. Bloomberg reported in April the business is on the block, and that NXP "may seek at least $2 billion" for it.
- The deal is expected to close in Q1 2017. Standard Products, which supplies analog and power management chips for numerous end-markets, saw revenue drop 15% Y/Y in Q1 to $274M. Its 2015 revenue totaled $1.2B.
- ~11K workers, manufacturing facilities in the U.K. and Germany, and back-end facilities in China, Malaysia, and the Philippines will be transferred as part of the deal. NXP says the sale will allow it to "continue to focus on its High-Performance Mixed Signal business, furthering our Secure Connections for a Smarter World strategy." Last year, JAC bought NXP's base station power amplifier business for $1.8B, a deal that was needed to win regulatory support for the Freescale acquisition.