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Broadcom's New Offer Puts Qualcomm in the Hot Seat
The new price of $82 a share is hard to ignore, and management outfoxed itself on NXP.
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Broadcom Ltd.'s boosted takeover bid for Qualcomm Inc. puts the chipmaker's management team in a tough spot.
Broadcom on Monday raised its offer for Qualcomm by 17 percent to $82 a share, nearly three-quarters of which would be paid in cash. The bump comes with an ultimatum and a deadline: If after Qualcomm's annual meeting on March 6 shareholders haven't backed Broadcom's hostile board slate or Qualcomm hasn't come to the negotiating table on its own, the deal is off.