QUALCOMM shares weaker: QUALCOMM wants to take over car IT specialist Veoneer | 04.10.21

QUALCOMM shares weaker: QUALCOMM wants to take over car IT specialist Veoneer | 04.10.21
QUALCOMM shares weaker: QUALCOMM wants to take over car IT specialist Veoneer | 04.10.21

The chip company QUALCOMM now comes into play in the struggle for the Swedish auto IT specialist Veoneer.

Together with the holding company SSW Partners, the Swedes listed in New York are to be taken over for 37 dollars per share, as the companies involved announced on Monday. That corresponds to a total value of 4.5 billion dollars (3.9 billion euros) for the entire share capital. The transaction is expected to close in 2022

QUALCOMM had already bid $ 37 per share in August, beating an offer from auto supplier Magna. Nevertheless, Veoneer had initially stuck to the takeover commitment to Magna. According to QUALCOMM, the 37 US dollars correspond to a premium of 18 percent on the Magna offer and a premium of 86 percent compared to the Veoneer price before the announcement of the offer from Magna.

As part of the deal announced this Monday, SSW will first buy all of Veoneer’s outstanding shares and then sell the Arriver business to QUALCOMM. The classic tier 1 supplier business should then remain with the investment company, which is looking for long-term partners.

Veoneer and QUALCOMM had only founded the Arriver brand in January for everything to do with software for driver assistance systems and autonomous driving. QUALCOMM itself has long been active in the electronics and software business for automakers.

On the NASDAQ, the QUALCOMM share is currently down 1.62 percent to $ 126.62.

/mis/ngu/he

NEW YORK / SAN DIEGO / STOCKHOLM (dpa-AFX)

Source

QUALCOMM shares weaker QUALCOMM car specialist Veoneer

 
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