Report: Qualcomm, NXP In Merger Talks

(RTTNews) - Chipmaker Qualcomm is reportedly in talks with NXP Semiconductor NV (NXPI) for a possible acquisition, reports said. According to Bloomberg, negotiations are on with a probable price of $110 t $120 per NXP share. The deal would value NXP at around $34.7 billion.

The deal is said to be the largest in the semiconductor industry. The chip makers may announce the deal prior to the first week November, probably during the announcement of the earnings.

The Netherlands based NXP has operations in more than 35 countries and it focuses on products and solutions for connected cars, cyber security, portables, wearables and Internet of Things. It has around 44,000 employees. For the fiscal 2015, NXP Semiconductor has reported revenue of $6.1 billion.

Subsequent to a Bloomberg report about a potential acquisition on September 28, 2016, the shares of NXP Semiconductor spiked from 82.24 to more than 100. Currently the shares are trading at $101.01 on more than average volume of 8.505 million shares.

Qualcomm shares are currently up 2.48 percent at $69.02.