Broadcom's Tan Got His Way on Deals; Then He Targeted Qualcomm
Qualcomm Rejects Broadcom's $105 Billion Offer
Hock Tan has put together nine deals worth more than $50 billion since 2013. Broadcom Ltd.’s chief executive officer has grown accustomed to getting his way, using compromise, more money, sheer force of will—or a combination of all three.
Bringing Qualcomm Inc., his latest target, to heel isn't going so smoothly. On Monday, the mobile chip powerhouse rejected his $105 billion, $70-per-share offer, saying it was far too low and raised significant regulatory uncertainty. It was the second brushoff. Last year, Tan approached Qualcomm privately and was turned down, according to people familiar with the situation. On Monday, he quickly reaffirmed his determination to buy the San Diego-based chipmaker.