logo
Plus   Neg
Share
Email

Broadcom Reiterates $82/share Offer For Qualcomm; Urges To Meet This Weekend

Broadcom Limited (AVGO) reiterated that $82 per share is the company's best and final offer for Qualcomm. Broadcom urged Qualcomm to meet with without further delay, and the company stands ready to meet this Saturday or Sunday.

"Following Qualcomm's announcement today that it is willing to meet with us, we offered to meet with Qualcomm on Friday, Saturday or Sunday. I was astonished to hear that Qualcomm is not willing to meet until Tuesday - only after Qualcomm's and Broadcom's respective meetings with Glass Lewis and ISS. The proposed merger agreement is highly favorable to Qualcomm and its stockholders and includes an $8 billion regulatory reverse termination fee and a 6% per annum regulatory ticking fee on the cash portion of the merger consideration (net of dividends). We want to reiterate that $82 per Qualcomm share is our best and final offer," said, Hock Tan, President and CEO.

by RTTNews Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Editors Pick
Tesla Inc.'s (TSLA) mass-market Model 3 sedan, which will be available in two new versions with dual motors and all-wheel drive in July, has failed to earn a recommendation from Consumer Reports. Department store chain Kohl's Corp. reported financial results for the first quarter that beat analysts' estimates. Meanwhile, off-price retailer TJX Companies, Inc. reported adjusted earnings for the first quarter that missed analysts' expectations, even as its revenues beat estimates. Both the companies raised their earnings outlook for the full year. Shortly after announcing a racial bias training for the staff, Starbucks revealed its changed policy of allowing anyone to use its spaces, rest rooms, cafes and patios even without buying anything from the stores. The new policy will be consistent all across U.S. stores.
Follow RTT