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Qualcomm Enters into Amended Definitive Agreement to Acquire NXP for $44 Billion
- Client News
- February 20, 2018
Paul, Weiss is representing Qualcomm Incorporated in its amended agreement with NXP Semiconductors N.V. to increase to $127.50 per share its previously announced cash tender offer to purchase all outstanding shares of NXP. The amended agreement also lowers the minimum tender condition from 80 percent of NXP's outstanding shares to 70 percent. The firm also advised Qualcomm in binding agreements with nine NXP stockholders who collectively own more than 28 percent of NXP's outstanding shares (excluding additional economic interests through derivatives) to tender their shares at $127.50 per share. These stockholders include funds affiliated with Elliott Advisors (UK) Limited and Soroban Capital Partners LP.
The Paul, Weiss team included, among others, corporate partners Scott Barshay, Steven Williams, Eric Goodison and John Kennedy and counsel Patricia Vaz de Almeida; tax partners Patrick Karsnitz and Jeffrey Samuels; intellectual property partner Claudine Meredith-Goujon and counsel Jonathan Ashtor; and litigation counsel Kira Davis.