Qualcomm, SSW Partners to buy Veoneer in $4.5 billion deal
TECH AND INTERNET

Qualcomm, SSW Partners to buy Veoneer in $4.5 billion deal

By Sophie Dee / October 4, 2021

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IAA MOBILITY 2021 show in Munich
Qualcomm symbol is throughout Munich Auto Present, IAA Mobility 2021 in Munich, Germany, September 8, 2021. REUTERS/Wolfgang Rattay

Oct 4, 2021

STOCKHOLM (Reuters) – Swedish automotive engineering group Veoneer stated on Monday chipmaker Qualcomm Inc and SSW Partners, a New York-based expense partnership, had arrived at a definite arrangement to acquire it.

Veoneer claimed in a assertion on Monday that Qualcomm and SWW Partners would invest in it for $37.00 for every share in an all-dollars transaction, symbolizing a total fairness price for Veoneer of $4.5 billion.

It included that it experienced terminated its prior acquisition agreement with Magna. In a individual statement, Magna stated Veoneer will shell out a termination price of $110 million to Magna.

Qualcomm in August available to get Veoneer at an 18.4% quality to a July bid worthy of all over $3.8 billion by Canada’s Magna that had now been recognized by Veoneer’s board.

The Swedish company has grow to be an eye-catching takeover goal as its know-how in making superior driver guidance methods suits in the strategy for each Qualcomm and Magna in cornering a share in a growing organization.

Veoneer’s Stockholm-listed shares rose 4.3% at 1316 GMT.

(Reporting by Anna Ringstrom and Helena Soderpalm modifying by Niklas Pollard)

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