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Elliott discloses NXP stake, to push for higher price in Qualcomm deal

10:25 EDT 4 Aug 2017 | Yahoo News

Elliott discloses NXP stake, to push for higher price in Qualcomm dealActivist investor Elliott Management Corp on Friday disclosed a 6 percent stake in chipmaker NXP Semiconductors NV and indicated it was pushing for a higher price tag in NXP's pending sale to Qualcomm Inc for $38 billion in cash. Elliott's stake, valued at roughly $2.2 billion to $2.3 billion, makes it NXP's largest shareholder, and the hedge fund's biggest activist shareholder campaign involving a semiconductor company to date. NXP shares were trading up 1.7 percent at $112.50, just above Qualcomm's $110 per share offer for the company, indicating most NXP shareholders expect a better deal.


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