Verizon Cuts Its Own Deal With Broadcom
Jul 19, 2007, 9:04 PM by (staff)
Verizon today announced it has licensed Broadcom's power-saving patents, and will cease backing Qualcomm's efforts to appeal the ITC ruling. Verizon Wireless will pay Broadcom's original asking price of $6 per unit with a ceiling of $40 million per quarter and a lifetime cap of $200 million. Even if the ITC ban is not overturned, Verizon's new license will allow it to continue importing and launching new EV-DO phones in the US. The move is seen as a blow to Qualcomm, which re-iterated its continuing effort to get the ITC ruling overturned after today's announcement.
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.
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.
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."
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.