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NXP not for sale but would consider offers, says CEO

Posted: 14 Apr 2011 ?? ?Print Version ?Bookmark and Share

Keywords:NXP takeover talks? Rick Clemmer? TI-NSC merger?

Quoting NXP Semiconductors BV CEO Rick Clemmer, a Reuters report has stated that the Netherlands-based chipmaker is not discussing a possible takeover with any other semiconductor firm.

This contradicts a report from Dutch newspaper De Telegraaf, which said NXP was in talks with Intel, Broadcom and Qualcomm, referencing an unnamed banker as its source.

The Reuters report quoted Clemmer as saying he would have to consider a high premium offer, such as the one that Texas Instruments Inc. has made for National Semiconductor Corp., which would value NXP shares at $55 to $60 each.

"NXP isn't for sale. And I haven't held talks with the CEOs of Intel, Qualcomm or Broadcom for five or six weeks." the report quoted Clemmer as saying. He said that when he had talked to Qualcomm and Broadcom previously, it was about routine customer issues.

NXP was created by a private equity buyout from Koninklijke Philips Electronics NV in 2006 for 6.4 billion euros (about $8 billion).

NXP holds a strong position in NFC, which is set to become the method whereby consumers make wireless financial transactions using cellphones, turning them into electronic wallets. Google is incorporating NFC into its Android platform and Apple is expected to include NFC in an upcoming iteration of its iPhone.

- Peter Clarke
??EE Times

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