logo
Plus   Neg
Share
Email
Comment

Qualcomm Says Board To Review Broadcom's Sweetened $82 Per Share Bid

Qualcomm Inc. (QCOM) confirmed Monday that it has received a revised, non-binding, unsolicited proposal from Broadcom Ltd. (AVGO) to acquire all outstanding shares of Qualcomm for $60.00 per share in cash and $22.00 per share in Broadcom stock.

Qualcomm said its board of directors, in consultation with its financial and legal advisors, will review the revised proposal to determine the course of action it believes is in the best interests of the company and its stockholders. The company added that it will have no further comment on the proposal until its Board has completed its review.

Earlier on Monday, Broadcom said it has made a "best and final offer" to acquire all outstanding shares of common stock of Qualcomm for $82.00 per each Qualcomm share, consisting of $60.00 in cash and the remainder in Broadcom shares.

Broadcom's improved offer is premised on either Qualcomm acquiring NXP Semiconductors on the currently disclosed terms of $110 per NXP share or the transaction being terminated, and is also premised on Qualcomm not delaying or adjourning its annual meeting past March 6, 2018.

In November 2017, Qualcomm's board had unanimously rejected Broadcom's non-binding, unsolicited proposal to acquire Qualcomm for per share consideration of $60.00 in cash and $10.00 in Broadcom stock.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
BlackRock Inc., the world's largest asset manager, said it plans to speak with gun makers and distributors following public outcry after the Florida high school shooting that killed 17 people. BlackRock, which had $6.3 trillion in assets under management as of December 31, 2017, holds shares in gun makers Sturm Ruger & Co. Inc. as well as American Outdoor Brands Corp. An upgraded boarding in Southwest Airline will cost you more. The airline usually not assign seats to passengers, but one can choose from an open seat. The Upgraded Boarding will allow passengers to choose from A1 - A15 boarding positions. The cost for these positions would be $30, $40 and $50, depending on flight and route. This option can be availed from the ticket counter or gate. Citigroup Inc.'s co-head of mergers and acquisitions, Peter Tague, is leaving the company, according to media reports, citing people familiar with the matter. Tague has been co-head of Global M&A business at Citigroup since March 2012, alongside Cary Kochman and Mark Shafir. It was not immediately clear what Tague intends to do after he leaves Citigroup.
comments powered by Disqus
Follow RTT