(Bloomberg) -- Qualcomm Inc. has agreed to buy NXP Semiconductors NV for $110 a share in a deal likely to be announced next week, CNBC reported, citing people familiar with the matter.
The San Diego-based company is close to wrapping up a review of NXP's finances and worldwide operations, and is negotiating a price in the range of $110 to $120 a share, people with knowledge of the discussions told Bloomberg yesterday. The announcement may come when NXP reports quarterly earnings, scheduled for Oct. 26. No agreement has been signed and the deal still may not happen, said the people, who declined to be identified because the discussions are private.
Qualcomm shares jumped as much as 3.1 percent to $69.44 after the report from CNBC Friday. They were trading at $68.50 at 10:44 a.m. in New York. NXP shares fell as much as 3.3 percent to $101.00, giving it a market value of about $35 billion.
To contact the reporter on this story: Molly Schuetz in New York at mschuetz9@bloomberg.net. To contact the editors responsible for this story: Jillian Ward at jward56@bloomberg.net, Molly Schuetz, Lisa Wolfson
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