Qualcomm Reaches Agreement To Buy CSR For GBP 1.560 Bln - Quick Facts

(RTTNews) - Qualcomm Inc. (QCOM) reached agreement with the Board of CSR plc. (CSRE, CSRXF.PK, CSR.L), regarding the terms of a recommended cash offer through which the entire issued and to be issued ordinary share capital of CSR will be acquired by Qualcomm Global Trading Pte. Ltd.or "QGT", an indirect wholly owned subsidiary of Qualcomm Inc.

As per the terms of the Acquisition, each Scheme Shareholder will be entitled to receive 900 pence in cash for each CSR Share. The Acquisition values the entire issued and to be issued share capital of CSR at about 1.560 billion pounds.

The offer price represents a premium of about 56.5 per cent to the Closing Price per CSR Share of 575 pence on 27 August 2014, being the last Business Day prior to the commencement of the Offer Period.

It is intended that the Acquisition be implemented by means of a Court-sanctioned scheme of arrangement.

The CSR Directors intend unanimously to recommend that CSR Shareholders vote in favour of the Scheme at the Court Meeting and in favour of the General Meeting Resolutions, as each CSR Director has irrevocably undertaken to do in respect of their own beneficial holdings, being in aggregate a total of 884,457 CSR Shares (including CSR Shares underlying CSR ADSs), representing about 0.54 per cent of the existing issued capital of CSR as at 14 October 2014.