Broadcom Ups Its Bid for Qualcomm
Broadcom today made a second offer to acquire rival Qualcomm. Last year, the company offered $70 per share of Qualcomm's stock. Qualcomm rejected that bid, saying it drastically undervalued the company. Today's offer ups the financials to a total of $82 per share of Qualcomm stock. The new offer includes a greater mix of Broadcom stock, which Broadcom says gives Qualcomm shareholders a greater stake in the combined entity should the deal go through. The company also offered to accept two directors from Qualcomm, including Paul Jacobs, onBroadcom's board of directors, as well as pay a reverse termination fee should the deal not meet regulatory muster. Qualcomm acknowledged that it received Broadcom's new offer, though it declined to comment on the specifics of the revised deal. Qualcomm is already one of the world's largest suppliers of chips. Merging the two would create a titanic company in the mobile radio space.
Qualcomm Rejects Broadcom's Latest Acquisition Offer, But Leaves Door Open
Qualcomm's board of directors today unanimously rejected Broadcom's revised bid to acquire the company for $121 billion. Qualcomm's board continues to insist that Broadcom is undervaluing Qualcomm's overall worth.
Broadcom Lowers Offer for Qualcomm, Qualcomm Says No Way
Broadcom revised its offer to acquire Qualcomm downward by $3 per share after Qualcomm increased its own bid to buy NXP Semiconductors. Broadcom said, "Qualcomm's board acted against the best interests of its stockholders by unilaterally transferring excessive value to NXP's activist stockholders." Broadcom would have preferred to see Qualcomm act together with Broadcom to broker the right deal for NXP while still allowing Broadcom to move forward with its own offer to buy Qualcomm.
Qualcomm Rejects Broadcom's Acquisition Offer
Qualcomm's board of directors today unanimously rejected Broadcom's Nov. 6 offer to buy the company in a deal that would have been valued at approximately $130 billion.
Qualcomm Says It Met with Broadcom to Discuss Acquisition
Qualcomm today said members of its board of directors and senior management met with Broadcom to talk about the latter's acquisition offer. Broadcom offered to buy Qualcomm for $121 billion, but Qualcomm shot the deal down.
Qualcomm Says Broadcom's Overtures Not Striking Right Notes
Qualcomm today said Broadcom's acquisition offer simply isn't good enough as currently proposed. The companies met earlier this week to go over some of the finer points of Broadcom's $121 billion bid to purchase Qualcomm, and Qualcomm still came away leery that the deal won't work out.