M&A · Industrials · Motor Vehicle Parts & Accessories
Qualcomm Inc to acquire Veoneer, Inc.
Announced Oct 4, 2021 · Closed Apr 1, 2022
Deal value$4.50BEV $4.13B
Premium86.0%To unaffected price
EV / Adj. EBITDA—2.5x EV / Revenue
ConsiderationAll cash$37.00 per share
Transaction
- Acquirer
- Qualcomm Inc (QCOM)
- Target
- Veoneer, Inc.
- Buyer type
- Strategic
- Offer price per share
- $37.00
- Enterprise value
- $4.13B
- Status
- Closed Apr 1, 2022
Deal protections
- Break fee (target pays)
- $110M · 2.4%
- Reverse fee (buyer pays)
- $225M · 5.0%
- Go-shop
- No-shop
- Financing
- No financing condition
Advisors
- To the acquirer
- Centerview, Evercore
- To the target
- Morgan Stanley, Rothschild & Co
Sector context · Industrials
- Comparable deals
- 40 in the prior 24 months
- Premium
- 86.0% vs. 34.5% sector median
- EV / Adj. EBITDA
- Sector median 12.2x
- Break fee
- 2.4% vs. 2.8% sector median
Timeline
- AnnouncedOct 4, 2021
- Proxy filedOct 25, 2021
- Definitive proxyNov 15, 2021
- Shareholder voteDec 16, 2021
- ClosedApr 1, 2022