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Broadcom ups its offer for Qualcomm
US chipmaker, Qualcomm, confirms that it has received a revised – non-binding – proposal from Broadcom to acquire all outstanding shares of Qualcomm.
Broadcom’s former unsolicited proposal was USD 70 per Qualcomm share (made up by USD 60.00 in cash and USD 10.00 in Broadcom stock); this was unanimously rejected by Qualcomm’s Board of Directors.
In its new proposal, Broadcom is offering USD 60.00 per share in cash and USD 22.00 per share in Broadcom stock. Qualcomm says it will review the revised proposal – together with its financial advisors – and make a decision based on what is best for its shareholders.
