, Columnist
Qualcomm Won't Win NXP by Dawdling
It's time to raise the price if it wants investors like Elliott to agree to a takeover.
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Qualcomm Inc. can't kick the can down the road forever.
The semiconductor maker on Thursday announced it was extending its tender offer for NXP Semiconductors NV to Sept. 22, marking at least the eighth such postponement since the exchange was commenced in November. It's not unusual for mergers subject to tough regulatory scrutiny like this one to require multiple extensions. But in this case, there's something else dragging things out: Qualcomm keeps offering NXP shareholders the same price of $110 a share. By now, it should be obvious that's not going to cut it.