Broadcom upping Qualcomm hostile takeover bid to $121 billion

Qualcomm logoBroadcom has boosted its bid for Qualcomm to around $121 billion amping up its previous offer a bit, according to a report on Monday morning from Bloomberg. While shareholders will still be given $60 per share of Qualcomm stock, it will now also grant $22 in Broadcom shares, more than double what it offered before.

The deal is reportedly contingent on Qualcomm's purchase of NXP Semiconductors either finishing up at the existing offer, or being ended with no negotiation. concluding one way or another. Qualcomm has an offer on the table of $110 per share of NXP stock —with shareholders complaining that it must be increased for the deal to conclude.

Broadcom's initial offer stipulated that shareholders would be given $60 payment for each share owned, and $10 in Broadcom shares —a deal which was rejected. The buy offer represented a premium of 27.6 percent to Qualcomm's closing price of $54.84 before rumors started circulating in early November 2017 about a possible deal. Qualcomm's current stock price is around $64, in before-hours trading.

Broadcom is known for its Wi-Fi modules and has been a regular Apple supplier, including the iPhone X. Buying Qualcomm would immediately thrust it into a leading position in cellular modems, as well as mobile processors.

Qualcomm

Qualcomm is in the midst of a multi-front legal battle about broadband chip licensing with Apple. Broadcom Chief Executive Hock Tan claims that Broadcom absorbing Qualcomm would lead to a "very constructive" environment for Apple and would allow for "resetting relationships."

Broadcom has around $5.25 billion of cash and cash equivalent on hand, and has garnered sufficient financing to seal the deal with Bank of America Merrill Lynch, Citi, Deutsche Bank, JP Morgan, Morgan Stanley, and Silver Lake Partners. Qualcomm reported $35.03 billion of the same on Sept. 24.

Source: AppleInsider

Tags: Broadcom, CPUs, Qualcomm

Comments
Add comment

Your name:
Sign in with:
or
Your comment:


Enter code:

E-mail (not required)
E-mail will not be disclosed to the third party


Last news

 
The new mobile payment app offers simple checkout proces
 
It is also rumored to feature a larger 4.2-inch display
 
Will warn users when background apps access the camera
 
Windows Phone 8.1 and 10 users have been spared for now
 
The drive also includes a hefty 40GB of DDR4
 
The bug also affects Safari and the built-in Messages app on macOS and the Apple Watch
 
Now is a good time to check out other keyboards that the Android and iOS app stores have to offer
 
Old installer pulled, new version pointing to the Store
The Samsung Galaxy A5 (2017) Review
The evolution of the successful smartphone, now with a waterproof body and USB Type-C
February 7, 2017 /
Samsung Galaxy TabPro S - a tablet with the Windows-keyboard
The first Windows-tablet with the 12-inch display Super AMOLED
June 7, 2016 /
Keyboards for iOS
Ten iOS keyboards review
July 18, 2015 /
Samsung E1200 Mobile Phone Review
A cheap phone with a good screen
March 8, 2015 / 4
Creative Sound Blaster Z sound card review
Good sound for those who are not satisfied with the onboard solution
September 25, 2014 / 2
Samsung Galaxy Gear: Smartwatch at High Price
The first smartwatch from Samsung - almost a smartphone with a small body
December 19, 2013 /
 
 

News Archive

 
 
SuMoTuWeThFrSa
    123
45678910
11121314151617
18192021222324
25262728   




Poll

Do you use microSD card with your phone?
or leave your own version in comments (6)