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NXP Shareholder Ramius to Reject Qualcomm's Buyout Offer

(Reuters) - NXP Semiconductors NV ( NXPI.O ) shareholder Ramius Advisors LLC said on Tuesday it would reject chipmaker Qualcomm Inc’s ( QCOM.O ) $38 billion bid for the company, joining activist investor Elliott Management Corp. Ramius, which is an affiliate of Cowen Inc ( COWN.O ), said it had informed NXP that Qualcomm’s offer “dramatically” undervalued the company. The New York-based institutional asset manager owned about 2.5 million shares, or less than a one percent stake ...

Mentions: Management stake Qualcom