Deals
Broadcom Pressures Qualcomm to Negotiate After Raising Bid
- Qualcomm stand-alone plan isn’t realistic, Broadcom CEO says
- Offered breakup fee would be in the billions of dollars
Broadcom Boosts Offer to Buy Qualcomm to $82 Per Share
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Broadcom Ltd. offered Qualcomm Inc.’s shareholders a $16 billion bigger payday, ratcheting up the pressure on its rival chipmaker to negotiate while deriding Qualcomm’s plan for independence as “pie in the sky.”
“Any rational board would engage with us,” Broadcom Chief Executive Officer Hock Tan said in an interview. “It’s an offer that provides more value to the shareholders of Qualcomm than any standalone value that Qualcomm has tried, or may think they can try to create.”