How Investors Reacted to Broadcom-Qualcomm-NXP Merger Update

Qualcomm (QCOM) increased its bid to acquire NXP Semiconductors (NXPI) a few days before the March 6 showdown where Qualcomm shareholders will vote for or against Broadcom-nominated (AVGO) directors. In 4Q17, Qualcomm stated its intentions to close the NXP deal in early 2018 without revealing any plans to increase its bid price above $110. At the end of 4Q17, institutional investors owned 84.5% of NXP’s shares valued at about $36 billion.