Veoneer agrees to talk with Qualcomm after bid exceeds Magna’s

Global auto suppliers and chipmakers are increasingly positioning for growth in advanced safety features. (File pic shows a Qualcomm autonomous car)

STOCKHOLM: Veoneer Inc said it will engage in takeover discussions with Qualcomm Inc, whose US$4.6bil (RM19.43bil) bid for the Swedish driver-assistance technology company is likely to be “superior” to an earlier offer from Magna International.

At US$37 (RM156.29) a share, Qualcomm is offering an 18% premium to Magna’s US$31.25 (RM132)-a-share bid.