7 years, 4 months ago

Broadcom said to be considering sweetened Qualcomm bid

New York: Chipmaker Broadcom Ltd is considering raising its offer to buy rival Qualcomm Inc. by offering more of its own stock, following consultation with several of Qualcomm’s top shareholders, according to people familiar with the matter. Broadcom’s chief executive Hock Tan has stated he is open to launching a takeover battle and people in the know had previously said the company is preparing to submit a slate of directors by Qualcomm’s 8 December nomination deadline. Qualcomm’s shareholders have indicated to Broadcom they expect at least $80 per share in order for Qualcomm to be sold, the people said. Broadcom has made several requests for a meeting with Qualcomm since it unveiled its offer on 6 November, the people said.

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