On the evening of January 16th, Beijing time, NXP Semiconductors shareholder Ramius Advisors said on Tuesday that it would oppose Qualcomm's $38 billion acquisition of NXP Semiconductors.
Ramius Advisors, a subsidiary of New York-based investment firm Cowen Inc., which specializes in asset management, said today that it has informed NXP Semiconductors that Qualcomm's offer has seriously underestimated the value of NXP Semiconductors.
According to Thomson Reuters data, Ramius Advisors owns about 2.5 million shares of NXP Semiconductors, holding less than 1%.
Qualcomm announced in October 2016 that it will acquire NXP Semiconductors for approximately $38 billion, or approximately $110 per share. At the time, NXP Semiconductors' stock price was less than $100, and the price of $110 per share was equivalent to a premium of 11.5%. But now, NXP Semiconductors' share price has already exceeded $110 per share.
To this end, radical investor Elliott Management also objected to the deal in December last year, saying that Qualcomm seriously underestimated the value of NXP Semiconductors, the reasonable value should be 135 US dollars per share. Elliott Management holds approximately 6% of the shares of NXP.
However, Qualcomm subsequently stated that the negotiated price of $110 per share has fully reflected the value of NXP Semiconductors and is reasonable.
The EU has approved the deal last week.
Ramius Advisors, a subsidiary of New York-based investment firm Cowen Inc., which specializes in asset management, said today that it has informed NXP Semiconductors that Qualcomm's offer has seriously underestimated the value of NXP Semiconductors.
According to Thomson Reuters data, Ramius Advisors owns about 2.5 million shares of NXP Semiconductors, holding less than 1%.
Qualcomm announced in October 2016 that it will acquire NXP Semiconductors for approximately $38 billion, or approximately $110 per share. At the time, NXP Semiconductors' stock price was less than $100, and the price of $110 per share was equivalent to a premium of 11.5%. But now, NXP Semiconductors' share price has already exceeded $110 per share.
To this end, radical investor Elliott Management also objected to the deal in December last year, saying that Qualcomm seriously underestimated the value of NXP Semiconductors, the reasonable value should be 135 US dollars per share. Elliott Management holds approximately 6% of the shares of NXP.
However, Qualcomm subsequently stated that the negotiated price of $110 per share has fully reflected the value of NXP Semiconductors and is reasonable.
The EU has approved the deal last week.
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