Avago Technologies May Buy Broadcom
Avago Technologies is in advanced talks to acquire Broadcom, reports the Wall Street Journal. Terms of the deal are not yet available, and the Journal's sources say the deal may not be signed. Broadcom's market valuation is about $28 billion and Avago's is about $34 billion. Broadcom makes wireless modems and other chips for mobile devices. It has struggled to compete in recent years with Qualcomm, Samsung, and others.
Qualcomm Rejects Broadcom's Latest Acquisition Offer, But Leaves Door Open
Feb 8, 2018
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 Proposes to Oust Qualcomm's Board
Dec 4, 2017
Broadcom today suggested Qualcomm's shareholders elect an entirely new board of directors during the latter's planned annual shareholder meeting on March 6, 2018. Broadcom took the opportunity to nominate 11 people to replace Qualcomm's board.
Qualcomm Says Broadcom's Overtures Not Striking Right Notes
Feb 16, 2018
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.
Broadcom Lowers Offer for Qualcomm, Qualcomm Says No Way
Feb 22, 2018
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.