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Check the box if the filing relates solely to preliminary communications made before the commencement of a tender offer.
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Exhibit No.
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Description
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1
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Press Release, dated December 11, 2017
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2
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Letter to Shareholders, dated December 11, 2017
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3
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Investor Presentation, dated December 11, 2017
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ELLIOTT ASSOCIATES, L.P.
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By:
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Elliott Capital Advisors, L.P., as General Partner
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By:
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Braxton Associates, Inc., as General Partner
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By:
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/s/ Elliot Greenberg | ||
Name:
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Elliot Greenberg
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Title:
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Vice President
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ELLIOTT INTERNATIONAL, L.P.
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By:
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Elliott International Capital Advisors Inc., as Attorney-in-Fact
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By:
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/s/ Elliot Greenberg | ||
Name:
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Elliot Greenberg
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Title:
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Vice President
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ELLIOTT CAPITAL ADVISORS, L.P.
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By:
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Braxton Associates, Inc., as General Partner
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By:
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/s/ Elliot Greenberg | ||
Name:
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Elliot Greenberg
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Title:
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Vice President
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ELLIOTT SPECIAL GP, LLC
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By:
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/s/ Elliot Greenberg | ||
Name:
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Elliot Greenberg
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Title:
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Vice President
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BRAXTON ASSOCIATES INC.
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By:
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/s/ Elliot Greenberg | ||
Name:
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Elliot Greenberg
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Title:
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Vice President
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ELLIOTT ASSET MANAGEMENT LLC
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By:
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/s/ Elliot Greenberg | ||
Name:
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Elliot Greenberg
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Title:
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Vice President
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ELLIOTT INTERNATIONAL CAPITAL ADVISORS INC.
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By:
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/s/ Elliot Greenberg | ||
Name:
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Elliot Greenberg
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Title:
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Vice President
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HAMBLEDON, INC.
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By:
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/s/ Elliot Greenberg | ||
Name:
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Elliot Greenberg
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Title:
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Vice President
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ELLIOTT MANAGEMENT CORPORATION
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By:
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/s/ Elliot Greenberg | ||
Name:
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Elliot Greenberg
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Title:
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Vice President
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THE LIVERPOOL LIMITED PARTNERSHIP
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By:
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Liverpool Associates, Ltd., as General Partner
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By:
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/s/ Elliot Greenberg | ||
Name:
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Elliot Greenberg
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Title:
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Vice President
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LIVERPOOL ASSOCIATES LTD.
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By:
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/s/ Elliot Greenberg | ||
Name:
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Elliot Greenberg
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Title:
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Vice President
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MANCHESTER SECURITIES CORP.
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By:
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/s/ Elliot Greenberg | ||
Name:
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Elliot Greenberg
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Title:
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Vice President
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ELLIOTT ADVISORS (UK) LIMITED
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By:
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/s/ Gordon Singer | ||
Name:
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Gordon Singer
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Title:
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Director
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/s/ Paul E. Singer | |||
Paul E. Singer
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●
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Elliott believes that NXP is worth $135 per share on a standalone basis without any control premium and that the Company is well positioned to benefit from some of the exciting growth engines of the semiconductor market;
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Elliott believes Qualcomm’s offer of $110 per share is acting as a ceiling on NXP’s valuation – NXP’s peers1 have traded up 65% since rumors of Qualcomm’s interest arose,2 outperforming NXP by 25%; and
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Qualcomm’s offer was highly opportunistic – as a result of certain identifiable temporary circumstances, NXP’s stock price was depressed in 2016 and Qualcomm’s $110 per share offer took advantage of those anomalies.
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Historically strong revenue growth slowed because of one-off headwinds in some of NXP’s end markets
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NXP experienced initial, but temporary, integration issues related to the acquisition of Freescale Semiconductor Ltd. (“Freescale”) that have since been overcome
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The Company’s stock suffered from a technical overhang that has since disappeared as private equity owners sold 16% of NXP over a four-month period
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