Qualcomm announced that Qualcomm River Holdings, an indirect wholly owned subsidiary of Qualcomm, has commenced the previously announced tender offer for all of the outstanding common shares of NXP Semiconductors at a price of $110.00 per share, less any applicable withholding taxes and without interest, to the holders thereof and payable in cash. The tender offer is being made pursuant to the Purchase Agreement, dated as of October 27, 2016, by and between Qualcomm River Holdings and NXP.
A tender offer statement on Schedule TO that includes the Offer to Purchase and related Letter of Transmittal that set forth the complete terms and conditions of the tender offer will be filed today with the U.S. Securities and Exchange Commission by Qualcomm River Holdings. Additionally, NXP will file with the SEC a solicitation/recommendation statement on Schedule 14D-9 that includes the recommendation of NXP's board of directors that NXP shareholders tender their shares in the tender offer.
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