Qualcomm Shares Rise After Closing in on NXP Semiconductor Deal
QCOM shares rose as the company closes in on a deal to acquire NXP Semiconductors
Shares of Qualcomm (QCOM) - Get Report were higher Friday on word that Qualcomm is closing in on a deal to acquire NXP Semiconductors (NXPI) - Get Report for about $37 billion, or $110 a share in cash to CNBC. The technology supplier for Android and Apple smartphones is nearing the conclusion of the deal, according to CNBC. The announcement could reportedly come when NXP or Qualcomm release quarterly results in the next two weeks. TheStreet's Jim Cramer, whose Action Alerts PLUS charitable trust holds NXP, says the $110 a share price might seem disappointing for shareholders, until you look at the bigger picture. Cramer notes the stock was at $80 not that long ago, making the $110 price a share a "huge win."
