08.31.18
Qualcomm Incorporated announced the preliminary results of its “modified Dutch auction” tender offer, which expired at midnight EST Aug. 27, 2018.
Based on the preliminary count by Computershare Trust Company, N.A., the depositary for the tender offer, a total of 76,205,230 shares of Qualcomm’s common stock were properly tendered and not properly withdrawn at or below the purchase price of $67.50 per share, including 34,408,876 shares that were tendered by notice of guaranteed delivery.
In accordance with the terms and conditions of the tender offer and based on the preliminary count by the depositary, Qualcomm expects to accept for payment, at a purchase price of $67.50, approximately 76,205,230 shares of its common stock properly tendered at or below the purchase price and not properly withdrawn before the expiration date, at an aggregate cost of approximately $5.1 billion, excluding fees and expenses relating to the tender offer.
The number of shares to be purchased and the purchase price is preliminary and subject to change. The preliminary information contained in this press release is subject to confirmation by the depositary and is based on the assumption that all shares tendered through notice of guaranteed delivery will be delivered within the two-trading day settlement period. The final number of shares to be purchased and the final purchase price will be announced following the expiration of the guaranteed delivery period and completion by the depositary of the confirmation process. Payment for the shares accepted for purchase under the tender offer and return of all other shares tendered and not purchased will occur promptly thereafter.
Based on the preliminary count by Computershare Trust Company, N.A., the depositary for the tender offer, a total of 76,205,230 shares of Qualcomm’s common stock were properly tendered and not properly withdrawn at or below the purchase price of $67.50 per share, including 34,408,876 shares that were tendered by notice of guaranteed delivery.
In accordance with the terms and conditions of the tender offer and based on the preliminary count by the depositary, Qualcomm expects to accept for payment, at a purchase price of $67.50, approximately 76,205,230 shares of its common stock properly tendered at or below the purchase price and not properly withdrawn before the expiration date, at an aggregate cost of approximately $5.1 billion, excluding fees and expenses relating to the tender offer.
The number of shares to be purchased and the purchase price is preliminary and subject to change. The preliminary information contained in this press release is subject to confirmation by the depositary and is based on the assumption that all shares tendered through notice of guaranteed delivery will be delivered within the two-trading day settlement period. The final number of shares to be purchased and the final purchase price will be announced following the expiration of the guaranteed delivery period and completion by the depositary of the confirmation process. Payment for the shares accepted for purchase under the tender offer and return of all other shares tendered and not purchased will occur promptly thereafter.
