Qualcomm Extends to June 28 Its Cash Tender Offer to Buy All NXP Shares

Qualcomm extended to June 28 its cash tender offer to buy all outstanding shares of NXP (see 1610270028), it said in a Wednesday announcement. About 14 percent of outstanding NXP common shares have been “validly tendered,” said Qualcomm. Bloomberg reported investors are pressuring NXP to renegotiate with Qualcomm and raise its $110-a-share purchase offer. NXP didn't respond.