Deals
NXP Faces Investor Push to Renegotiate With Qualcomm
- Elliott Management among those said to approach chipmaker
- NXP stock remains below the $110-a-share offer price
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Investors including Elliott Management Corp. are seeking to pressure NXP Semiconductors NV to renegotiate with Qualcomm Inc. to persuade the U.S. company to raise its $110-a-share purchase offer, according to people familiar with the process.
Elliott is one of at least three large NXP shareholders agitating for a higher price, said the people, who asked not to be identified discussing private talks. The investment firms are preparing to approach NXP to renegotiate terms of the deal announced last October that they argue undervalues the company, the people said.