Qualcomm and SSW Partners’ Acquisition of Veoneer

Paul, Weiss, Rifkind, Wharton & Garrison advised Qualcomm. Davis Polk & Wardwell advised SSW Partners. Skadden, Arps, Slate, Meagher & Flom and Roschier advised Veoneer on the deal.
Goodwin advised Centerview Partners.

Qualcomm Incorporated and SSW Partners, a New York-based investment partnership, have reached a definitive agreement to acquire Veoneer for $37.00 per share in an all-cash transaction, representing a total equity value for Veoneer of $4.5 billion. Veoneer has terminated its prior acquisition agreement with Magna International Inc. and canceled its October 19, 2021, special meeting that was previously scheduled to approve that agreement. 

Qualcomm is the world’s leading wireless technology innovator and the driving force behind the development, launch, and expansion of 5G.

SSW Partners invests in high-quality businesses and collaborates with partners to create enduring value for all stakeholders. 

Veoneer, Inc. is a worldwide leader in automotive technology. In 2018, Veoneer became an independent, publicly traded company listed on the New York Stock Exchange (NYSE: VNE) and on the Nasdaq Stockholm (SSE: VNE SDB).

Centerview Partners LLC and Evercore Group L.L.C. acted as financial advisors to Qualcomm. Morgan Stanley and Rothschild & Co. acted as financial advisors to Veoneer.

The Davis Polk corporate team included partners William H. Aaronson (Picture) and George R. Bason Jr. The executive compensation team included partner Jeffrey P. Crandall and associate Tessa Patti. The intellectual property and technology transactions team included partner Pritesh P. Shah and associate Jesse L. Hallock. Partner William A. Curran provided tax advice. 

The Skadden team included M&A partners Stephen Arcano and Dohyun Kim, and associate Samuel Cammer; Executive Compensation and Benefits partner Regina Olshan and counsel Berit Freeman; Tax partners Steven Matays and Chase Wink; and Banking partner Stephanie Teicher. All attorneys are located in New York.

Roschier’s advisory team comprised Partners Ola Sandersson and Björn Winström and Senior Associate Erik Persson.

The Goodwin team was led by Stuart Cable, James Matarese, and Blake Liggio.

The Paul, Weiss team was led by corporate partners Scott Barshay, Kyle Seifried and Krishna Veeraraghavan, and included partners John Kennedy and Caith Kushner, and counsel David Curtiss; intellectual property partner Jonathan Ashtor, and counsel Elana Bensoul and Marisa Geiger; tax partners Brian Krause and Jeffrey Samuels; executive compensation partner Lawrence Witdorchic; real estate partner Salvatore Gogliormella; environmental counsel William O’Brien; and litigation counsel Jacobus Schutte, Peter Jaffe and Steven Herzog.

Involved fees earner: William Aaronson – Davis Polk & Wardwell; George Bason Jr. – Davis Polk & Wardwell; Jeffrey Crandall – Davis Polk & Wardwell; William Curran – Davis Polk & Wardwell; Jesse Hallock – Davis Polk & Wardwell; Tessa Patti – Davis Polk & Wardwell; Pritesh P. Shah – Davis Polk & Wardwell; Stuart Cable – Goodwin Procter; Blake Liggio – Goodwin Procter; James Matarese – Goodwin Procter; Jonathan Ashtor – Paul Weiss Rifkind Wharton & Garrison; Scott Barshay – Paul Weiss Rifkind Wharton & Garrison; Elana Bensoul – Paul Weiss Rifkind Wharton & Garrison; David Curtiss – Paul Weiss Rifkind Wharton & Garrison; Marisa Geiger – Paul Weiss Rifkind Wharton & Garrison; Salvatore Gogliormella – Paul Weiss Rifkind Wharton & Garrison; Steven Herzog – Paul Weiss Rifkind Wharton & Garrison; Peter Jaffe – Paul Weiss Rifkind Wharton & Garrison; John Kennedy – Paul Weiss Rifkind Wharton & Garrison; Brian Krause – Paul Weiss Rifkind Wharton & Garrison; Caith Kushner – Paul Weiss Rifkind Wharton & Garrison; William O’Brien – Paul Weiss Rifkind Wharton & Garrison; Jeffrey Samuels – Paul Weiss Rifkind Wharton & Garrison; Jacobus Schutte – Paul Weiss Rifkind Wharton & Garrison; Kyle Seifried – Paul Weiss Rifkind Wharton & Garrison; Krishna Veeraraghavan – Paul Weiss Rifkind Wharton & Garrison; Lawrence Witdorchic – Paul Weiss Rifkind Wharton & Garrison; Erik Persson – Roschier; Ola Sandersson – Roschier; Björn Winström – Roschier; Stephen Arcano – Skadden Arps Slate Meager & Flom; Samuel Cammer – Skadden Arps Slate Meager & Flom; Berit Freeman – Skadden Arps Slate Meager & Flom; Dohyun Kim – Skadden Arps Slate Meager & Flom; Steven Matays – Skadden Arps Slate Meager & Flom; Regina Olshan – Skadden Arps Slate Meager & Flom; Stephanie Teicher – Skadden Arps Slate Meager & Flom; Chase Wink – Skadden Arps Slate Meager & Flom;

Law Firms: Davis Polk & Wardwell; Goodwin Procter; Paul Weiss Rifkind Wharton & Garrison; Roschier; Skadden Arps Slate Meager & Flom;

Clients: Centerview Partners; Qualcomm Ventures; SSW Partners; Veoneer Inc;