Veoneer Says It Received Updated Proposal From Qualcomm
September 13 2021 - 5:06PM
Dow Jones News
By Stephen Nakrosis
Automotive technology company Veoneer Inc. on Monday said it was
confirming reception of an updated non-binding proposal from
Qualcomm Inc. under which Qualcomm would acquire all outstanding
shares of Veoneer for $37 each in cash.
In July, Veoneer said it entered definitive merger agreement
with Magna International Inc., and earlier this month said it filed
with the U.S. Securities and Exchange Commission to hold a special
meeting of stockholders on Oct. 19 to consider that deal.
Veoneer said it is evaluating the terms of Qualcomm's proposal
"and will, if appropriate, engage in negotiations with Qualcomm
and/or Magna to ascertain the best possible outcome for its
stockholders."
Veoneer said the merger agreement with Magna "remains in full
force and effect, and the board of directors of Veoneer has not
withdrawn or modified its recommendation that the stockholders of
Veoneer vote in favor of the approval of the merger."
Write to Stephen Nakrosis at stephen.nakrosis@wsj.com
(END) Dow Jones Newswires
September 13, 2021 17:51 ET (21:51 GMT)
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