What Made Qualcomm Increase Its Bid for NXP after 16 Months?
After proxy advisory firms ISS (Institutional Shareholder Services) and Glass Lewis recommended Qualcomm (QCOM) close the NXP Semiconductors (NXPI) deal, Qualcomm raised its bid for NXP by 16% from $110 to $127.5 per share and also secured backing from major NXP shareholders to ensure the deal goes through. This raises a question about why Qualcomm raised the NXP bid after 16 months even though it has been facing pressure from NXP shareholders to increase the price for quite some time. Why did Qualcomm raise its bid for NXP after 16 months?