Aug 7, 2017

Activist wants Qualcomm to up its takeover offer for NXP

Dan Primack, author of Pro Rata

AP Photo/Gregory Bull

Activist investor Elliott Management on Friday disclosed a 6% stake in NXP Semiconductors, the Dutch chip-maker that recently agreed to be acquired by Qualcomm for $38 billion in cash. The firm added that it paid around $1.2 billion for the position.

  • Why it's a big deal: Elliott said in a regulatory filing that it believes NXP stock is "significantly undervalued and represent an attractive investment opportunity." Given that NXP has been trading around the $110 per share takeover price for months, this means Elliott wants to push Qualcomm for a richer deal.
  • Bottom line: Qualcomm/NXP already was set to be the largest semiconductor merger of all time, but Elliott's agitation already has helped add more than half a billion dollars to NXP's market cap.

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Orion Rummler
25 mins ago - Technology

Twitter launches warnings on election misinformation and delays

Photo: courtesy of Twitter

Twitter will start pinning notices to the top of all U.S. Twitter users’ timelines warning that results in next week’s election may be delayed and that they may encounter misinformation on mail-in voting.

Why it matters: Delayed election results are expected across many states that are handling unprecedented amounts of absentee and mailed ballots, which President Trump has baselessly called "very dangerous" and "corrupt."

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Miriam Kramer, author of Space
33 mins ago - Science

NASA confirms water exists on sunny parts of the Moon

Photo: NASA/JPL/USGS

Water on the Moon might be more easily accessible than previously thought, opening up new possible avenues for future human exploration, according to a new study.

Why it matters: NASA is aiming to send people back to the Moon as part of its Artemis program by 2024, with plans to eventually create a sustainable presence on the lunar surface. That sustainability relies on mining the moon for its resources, like water.

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Axios
Updated 1 hour ago - Politics & Policy

Pence no longer expected at Amy Coney Barrett's final confirmation vote

Photo: Ben Hasty/MediaNews Group/Reading Eagle via Getty Images

Vice President Mike Pence no longer plans to attend the Senate's final confirmation vote for Judge Amy Coney Barrett, a Pence aide confirmed to CNN and Politico on Monday. On Sunday, Senate Democrats claimed that his presence after possible exposure to the coronavirus would be a "violation of common decency."

Driving the news: Five of Pence's aides were recently diagnosed with COVID-19, including his chief of staff, who is currently quarantining. Pence has continued his campaign travel despite his possible exposure, which goes against CDC guidelines.

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