Open to offer: Veoneer shares lighter, QUALCOMM shares in green: Bidding battle for Swedish Veoneer – now talks with QUALCOMM | news
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The group said on Sunday that it was open to the offer of the US chip manufacturer QUALCOMM and would hold talks with them. A few days ago, QUALCOMM submitted a $ 4.6 billion offer for Veoneer, outperforming the Austrian-Canadian Magna Group. Magna had previously offered $ 3.8 billion and already had the management of the Swedish provider of driver assistance systems on its side.
On Sunday, however, Veoneer stated that there was a clause in the agreement with Magna that would allow Veoneer to look at the offer of another interested party in the event of a higher-quality offer. Veoneer will do this now.
Stockbrokers do not rule out that the bidding war for Veoneeer could continue. Before the Magna offer was announced, Veoneer was valued at around $ 2.2 billion on the stock exchange.
While Veoneer shares fell 1.94 percent to $ 37.94 in NYSE trading, QUALCOMM shares on the NASDAQ are up 0.48 percent at $ 146.99.
More news about QUALCOMM Inc.
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