Report: NXP not in talks, would consider offer
April 12, 2011 // Peter Clarke
Dutch chip company NXP Semiconductors BV is not in takeover talks, according to a Reuters report that quotes company CEO Rick Clemmer.
This contradicts a report from Dutch newspaper De Telegraaf which said NXP was in talks with Intel, Broadcom and Qualcomm, referencing an unnamed banker as its source.
The Reuters report quoted Clemmer saying he would have to consider a high premium offer, such as the one that Texas instruments Inc. has made for National Semiconductor Corp., which would value NXP shares at $55 to $60 each.
"NXP isn't for sale. And I haven't held talks with the CEOs of Intel, Qualcomm or Broadcom for five or six weeks." the report quoted Clemmer as saying. He said that when he had talked to Qualcomm and Broadcom previously it was about routine customer issues.
NXP (Eindhoven, The Netherlands) was created by a private equity buy out from Koninklijke Philips Electronics NV in 2006 for 6.4 billion euros (about $8 billion).
NXP holds a strong position in Near Field Communications (NFC) which is set to become the method whereby consumers make wireless financial transactions using cell phones, turning them into electronic wallets. Google is incorporating NFC into its Android platform and Apple is expected to include NFC in an upcoming iteration of its iPhone.
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