Qualcomm Extends Cash Tender Offer To NXP To October 27

(RTTNews) - Qualcomm Inc. (QCOM) announced Friday that its indirect unit Qualcomm River Holdings B.V. has extended the offering period of its previously announced cash tender offer to purchase all shares of NXP Semiconductors N.V. (NXPI).

The tender offer is being made pursuant to the Purchase Agreement, dated as of October 27, 2016, by and between Qualcomm River Holdings B.V. and NXP.

The tender offer is now scheduled to expire at 5:00 p.m., New York City time, on October 20, 2017, unless extended or earlier terminated, in either case pursuant to the terms of the Purchase Agreement.

Qualcomm noted that American Stock Transfer & Trust Co., LLC, the depositary for the tender offer, has advised Qualcomm River Holdings B.V. that as of 5:00 p.m., New York City time, on September 21, 2017, the last business day prior to the announcement of the extension of the offer, 10.95 million NXP shares or about 3.2 percent stake have been validly tendered pursuant to the tender offer and not properly withdrawn.

The transaction is expected to close by the end of calendar 2017.