Veoneer (VNE) is Evaluating Qualcomm's (QCOM) $37/Share Overbid

Veoneer, Inc. (NYSE: VNE) provides an update regarding the offer from QUALCOMM Incorporated (NASDAQ: QCOM) to acquire all of its outstanding shares at $37 per share in cash. Veoneer said it is now in a process of evaluating the terms of an updated non-binding proposal from Qualcomm that it has received. Qualcomm made a public announcement of an acquisition proposal on August 5, 2021.

The $37 per share offer tops a $31.25 per share merger agreement Veonee signed with Magna International Inc. (NYSE: MGA) in July. In August, following rumors of the higher QUALCOMM bid, said it will be "disciplined".

Veoneer said there can be no assurances that the negotiations will result in a transaction that the Veoneer board of directors determines is superior to Veoneer’s pending transaction with Magna.

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