POTENTIAL DEAL DETAILS
|Date Announced||08/05/2021||Source||Press Release|
|Type||Unsolicited Bid||Acquiring Company/Person||Qualcomm Incorporated|
|Date of Confirmation:||10/04/2021||Price at Confirmation:||$36.01|
|Potential Profit:||-10.31%||Annualized Profit:||-62.73%|
Qualcomm Incorporated (QCOM) announced it has submitted an offer to acquire Veoneer (VNE) for $37 per share, in an all-cash transaction. Our offer has been approved by Qualcomm’s Board of Directors, does not require Qualcomm stockholder approval, and has no financing conditions.
September 13, 2021: The automotive technology company Veoneer, Inc. (VNE) confirmed that it has received an updated non-binding proposal from Qualcomm Incorporated providing for the acquisition of all of the outstanding shares of Veoneer at a price of $37.00 per share in cash, following Qualcomm’s public announcement of a proposal on August 5, 2021.
October 4, 2021: Qualcomm Incorporated (QCOM) and SSW Partners, a New York-based investment partnership announced they have reached a definitive agreement to acquire Veoneer, Inc. (VNE) for $37.00 per share in an all-cash transaction, representing a total equity value for Veoneer of $4.5 billion.
Veoneer has terminated its prior acquisition agreement with Magna International Inc. and canceled its October 19, 2021, special meeting that was previously scheduled to approve that agreement.
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