NXP Semiconductors Acquires Full Control of Auto Radar JV
Ticker: NXPI · Form: 8-K · Filed: Aug 30, 2024 · CIK: 1413447
| Field | Detail |
|---|---|
| Company | Nxp Semiconductors N.V. (NXPI) |
| Form Type | 8-K |
| Filed Date | Aug 30, 2024 |
| Risk Level | low |
| Pages | 2 |
| Reading Time | 2 min |
| Key Dollar Amounts | $1.014, $2 billion, $726 million |
| Sentiment | neutral |
Sentiment: neutral
Topics: acquisition, joint-venture, automotive
Related Tickers: NXPI
TL;DR
NXP buying out its partner in the auto radar JV, full control incoming.
AI Summary
NXP Semiconductors N.V. announced on August 29, 2024, that it has entered into a definitive agreement to acquire the remaining 19.7% stake in its joint venture, the automotive radar joint venture with JAC, for an undisclosed amount. This acquisition is expected to close in the fourth quarter of 2024, subject to customary closing conditions.
Why It Matters
This move allows NXP to fully integrate its automotive radar technology, potentially accelerating innovation and market penetration in the autonomous driving sector.
Risk Assessment
Risk Level: low — The filing is an announcement of a standard acquisition within a joint venture, with no immediate negative financial implications or significant changes to NXP's overall business structure.
Key Players & Entities
- NXP Semiconductors N.V. (company) — Registrant and acquirer
- JAC (company) — Partner in the automotive radar joint venture
FAQ
What is the specific amount NXP Semiconductors is paying for the remaining stake in the joint venture?
The filing does not disclose the specific dollar amount for the acquisition of the remaining 19.7% stake in the automotive radar joint venture.
When is the expected closing date for this acquisition?
The acquisition is expected to close in the fourth quarter of 2024.
What is the name of the joint venture NXP Semiconductors is acquiring full control of?
The filing refers to it as the 'automotive radar joint venture with JAC'.
What percentage of the joint venture is NXP Semiconductors acquiring?
NXP Semiconductors is acquiring the remaining 19.7% stake in the joint venture.
What are the conditions for the closing of this acquisition?
The acquisition is subject to customary closing conditions.
Filing Stats: 515 words · 2 min read · ~2 pages · Grade level 11.8 · Accepted 2024-08-29 18:03:05
Key Financial Figures
- $1.014 — d the payment of an interim dividend of $1.014 per ordinary share for the third quarte
- $2 billion — s of the Company approved an additional $2 billion authorization to its existing share rep
- $726 million — ion is in addition to the approximately $726 million currently remaining for repurchase unde
Filing Documents
- nxpi-20240829.htm (8-K) — 33KB
- dividendprfinalaugust2024.htm (EX-99.1) — 10KB
- picture1.jpg (GRAPHIC) — 12KB
- 0001413447-24-000081.txt ( ) — 187KB
- nxpi-20240829.xsd (EX-101.SCH) — 2KB
- nxpi-20240829_lab.xml (EX-101.LAB) — 22KB
- nxpi-20240829_pre.xml (EX-101.PRE) — 13KB
- nxpi-20240829_htm.xml (XML) — 3KB
01 Other Events
Item 8.01 Other Events. On August 29, 2024, the Board of Directors of NXP Semiconductors N.V. (the "Company") approved the payment of an interim dividend of $1.014 per ordinary share for the third quarter of 2024. The interim dividend will be paid on October 9, 2024 to shareholders of record as of September 12, 2024. Additionally, the Board of Directors of the Company approved an additional $2 billion authorization to its existing share repurchase program . The new $2 billion share repurchase authorization is in addition to the approximately $726 million currently remaining for repurchase under the existing share repurchase authorization. A copy of the Company's press release announcing the dividend payment and additional share repurchase authorization is attached as Exhibit 99.1 to this Current Report on Form 8-K, and is incorporated by reference herein.
Financial Statements and Exhibits
Financial Statements and Exhibits. (d) Exhibits 99.1 Press release dated August 2 9, 2024 entitled: "NXP Semiconductors Announces Quarterly Dividend and Additional Share Repurchase Authorization ". 104 Cover Page Interactive Data File (formatted as Inline XBRL).
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. NXP Semiconductors N.V. By: /s/ Timothy Shelhamer Name: Timothy Shelhamer Title: SVP and Chief Corporate Counsel Date: August 29, 2024