Qualcomm offers $4.6 billion to acquire Veoneer

Thursday, 05. August 2021 16:01

Qualcomm Inc. announced on Thursday it has offered $4.6 billion for the acquisition of Swedish manufacturer of car parts Veoneer Inc, topping previous bid provided by Canadian Magna International Inc.

The American semiconductor corporation plans to expand its business of developing automotive chips by purchasing Veoneer, which shares surged as much as 25% to $39.16 per share in New York.

Magna International offered last month to buy the company for $3.8 billion.

Related Links: Qualcomm Inc.
Breaking the News / ND