Tuesday 24 April 2018

Broadcom raises Qualcomm bid to more than 121 billion US dollars

Broadcom is boosting its buyout offer for Qualcomm to more than 121 billion US dollars (£86 billion) in cash and stock in what would be the largest tech deal in history.Broadcom said on Monday that its “best and final offer” of 82 US dollars (£58) per Qualcomm share includes 60 US dollars (£43) in cash …

Visitors look at a display booth for Qualcomm (Mark Schiefelbein/AP)
Visitors look at a display booth for Qualcomm (Mark Schiefelbein/AP)

By Associated Press Reporters

Broadcom is boosting its buyout offer for Qualcomm to more than 121 billion US dollars (£86 billion) in cash and stock in what would be the largest tech deal in history.

Broadcom said on Monday that its “best and final offer” of 82 US dollars (£58) per Qualcomm share includes 60 US dollars (£43) in cash and the rest in Broadcom shares.

Qualcomm previously said that a 103 billion US dollars (£73 billion) unsolicited acquisition offer undervalued the San Diego company, and criticised the individuals that Broadcom and Silver Lake Partners wanted to put on its board, saying that they were conflicted and had no incremental skills or expertise to offer.

Qualcomm did not immediately respond to a request for comment.

Qualcomm’s stock rose slightly in premarket trading, while shares of Broadcom dipped.

Press Association

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