Qualcomm tops Magna’s bid with $4.6 billion offer for Veoneer

A Qualcomm sign is shown outside one of the company’s many buildings in San Diego, California, U.S., September 17, 2020. REUTERS/Mike Blake

Aug 5 (Reuters) – Chipmaker Qualcomm Inc (QCOM.O) said on Thursday it had offered to buy Swedish auto parts maker Veoneer Inc (VNE.N) for $4.6 billion, an 18.4% premium to a bid in July by Canada’s Magna International Inc (MG.TO) that was accepted by Veoneer’s board.

U.S.-listed shares of Veoneer, spun off in 2018 from air bag and seatbelt maker Autoliv (ALV.N), rose 28% as the stage was set for a bidding war.

Veoneer said its board of

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