By Ian Walker
Alphawave IP said it is still in talks with Qualcomm over a possible takeover for the group and agreed to a further extension to the bid deadline.
The U.K. semiconductor company said Thursday that Qualcomm now has until Monday to make a formal offer for the company or walk away under U.K. Takeover Panel rules. The previous deadline, which has been extended a few times, was 1600 GMT on Thursday.
On April 1 San Diego-based Qualcomm said it was considering making an offer to buy Alphawave IP Group without disclosing any financial details. At that time, Alphawave advised its shareholders to take no action and said there was no certainty any firm offer would be made.
Alphawave shares closed Wednesday at 141.6 pence, implying a market capitalization of 792.2 million pounds ($1.07 billion). They are currently up 67% over the year to date and 20% over the past three months.
Write to Ian Walker at ian.walker@wsj.com
(END) Dow Jones Newswires
June 05, 2025 02:51 ET (06:51 GMT)
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