Qualcomm Makes Offer For Veoneer

San Diego-based Qualcomm said this morning that it has made an offer to acquire Veoneer, a developer of automotive technology. According to Qualcomm, it has offered to pay $37 per share in cash for Veoneer, which is publicly traded on the NYSE as VNE. Based on the shares outstanding of Veoneer, the deal would be worth approximately $4.1 billion. According to Qualcomm, its offer is an 18 percent premium to an existing offer from another company, Magna, to acquired Veoneer. Qualcomm said its offer has been approved by its board, and does not require Qualcomm stockholder approval, and has no financing conditions.