STOCKHOLM — Veoneer mentioned on Thursday that it was persevering with to advocate a bid from Magna Worldwide, whereas remaining in discussions with Qualcomm, the U.S. chipmaker that made a rival supply for the Swedish provider.
“Veoneer continues to advocate [the] Magna merger right now,” it mentioned in an announcement.
Veoneer added that it could proceed to interact in discussions with Qualcomm in response to the corporate’s competing proposal.
Qualcomm on Aug. 5 mentioned it had supplied $4.6 billion to purchase Veoneer, an 18.4 p.c premium to a July bid, price round $3.8 billion, by Canada’s Magna that had already been accepted by Veoneer’s board.
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