Brooke Sutherland, Columnist

Broadcom CEO's $8 Billion Breakup Pledge Shows Chutzpah

But with the regulatory uncertainties surrounding his hostile bid for Qualcomm, his bold gesture could come back to bite.

February 14, 2018 at 3:23 PM UTC

By Brooke Sutherland

Brooke Sutherland is Bloomberg News' Boston bureau chief and writes the Industrial Strength Newsletter. She was previously a Bloomberg Opinion columnist covering deals and industrial companies and an M&A reporter for Bloomberg News.

1518625104_319957247_1-7 — Photographer: Martin H. Simon/Bloomberg

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Broadcom Ltd. CEO Hock Tan is betting big on winning antitrust approval for his proposed $100 billion-plus takeover of Qualcomm Inc. But other CEOs have been confident, too.

Qualcomm last week rejected Broadcom's sweetened bid of $82 a share on the grounds that it undervalued the company and fell short of necessary regulatory commitments. The two sides are set to meet today to discuss the proposal. Broadcom has insisted $82 is its best and final offer, but committed to a so-called ticking fee that would add about 30 cents a share to the cash portion of the proposal for every month the merger-approval process drags on beyond a year.