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

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STOCKHOLM, Oct 4 (Reuters) – Swedish automotive expertise group Veoneer (VNE.N) stated on Monday chipmaker Qualcomm Inc (QCOM.O) and SSW Partners, a New York-based funding partnership, had reached a particular settlement to purchase it.

Veoneer stated in an announcement on Monday that Qualcomm and SWW Partners would purchase it for $37.00 per share in an all-cash transaction, representing a complete fairness worth for Veoneer of $4.5 billion.

It added that it had terminated its prior acquisition settlement with Magna. In a separate assertion, Magna stated Veoneer pays a termination price of $110 million to Magna.

Qualcomm in August supplied to purchase Veoneer at an 18.4% premium to a July bid value round $3.8 billion by Canada’s Magna (MG.TO) that had already been accepted by Veoneer’s board. learn extra

The Swedish firm has turn into a gorgeous takeover goal as its experience in making superior driver help programs suits within the plan for each Qualcomm and Magna in cornering a share in a rising enterprise.

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

Reporting by Anna Ringstrom and Helena Soderpalm; modifying by Niklas Pollard

Qualcomm logo is during Munich Auto Show, IAA Mobility 2021 in Munich, Germany, September 8, 2021. REUTERS/Wolfgang Rattay