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SAN DIEGO - Qualcomm (NASDAQ:QCOM) Incorporated (NASDAQ: QCOM), a leader in wireless technology, has publicly announced its contemplation of a potential acquisition offer for Alphawave IP Group PLC. The company’s statement, released today, follows noticeable movements in Alphawave’s share price and marks the beginning of an "offer period" as per the City Code on Takeovers and Mergers.
The announcement clarifies that there is no certainty that Qualcomm will proceed with a firm offer or the terms that might be proposed. According to the takeover code, Qualcomm must either declare a definite intention to make an offer or state that it will not pursue the acquisition by 5.00 p.m. (London time) on 29 April 2025. This deadline could be extended with the Takeover Panel’s consent.
This potential acquisition would bring together Qualcomm’s expertise in intelligent computing and connectivity with Alphawave’s specialization in high-performance semiconductor technology. The announcement has triggered disclosure requirements under Rule 8 of the takeover code, mandating stakeholders to disclose their positions.
Both Qualcomm and Alphawave shareholders are now subject to these new disclosure obligations, as the offer period has commenced. Qualcomm has engaged Evercore as its financial adviser and Paul, Weiss, Rifkind, Wharton & Garrison LLP as its legal adviser for this potential transaction.
Qualcomm’s interest in Alphawave reflects its ongoing strategy to innovate and expand its portfolio of solutions in AI, computing, and connectivity. The company has a long-standing reputation for driving technological advancements and facilitating digital transformation across various industries.
As the situation develops, further announcements are expected to be made accordingly. The information in this article is based on a press release statement by Qualcomm.
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