the chief of The Dutch chip maker NXP will receive nearly 400 million euros in the acquisition of his company by the American competitor Qualcomm. The Financieele Dagblad (FD) has calculated that in the U.s. ceo Rick Clemmer 391 million euros, will collect.
According to the FD going to be the biggest amount ever that a ceo in an acquisition of a Dutch company.
The amount Clemmer, consists of the value of the shares and option rights that he as a reward for his work at NXP. He may have shares and options to redeem as soon as the acquisition is completed, but the value is already fixed because NXP, and Qualcomm have agreed on a purchase consideration of $ 110 per share.
According to professor Hans Schenk, specializing in acquisitions and mergers, is the height of the amount “may not be very social, but certainly not illegal. It is very common that the top people in the business of shares and options, which they can redeem once the company is sold”.
Clemmer is since 2009 ceo of NXP. He was the successor of Frans van Houten, now ceo of Philips.
Yesterday it was announced that NXP, which includes chips for the automotive industry, it is bought by the American Qualcomm for 43 billion euro. It is the second-largest acquisition of a us company ever; only for ABN Amro was paid more.
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