Broadcom ups Qualcomm takeover bid to final $121bn offer

By Jonathan Dyble
Having had its latest $103bn takeover bid rejected by Qualcomm towards the end of last year, Irvine-based Broadcom has made a final attempt to acquire t...

Having had its latest $103bn takeover bid rejected by Qualcomm towards the end of last year, Irvine-based Broadcom has made a final attempt to acquire the multinational semiconductor and telecommunications equipment manufacturer.

Broadcom has raised its bid to $82 per share, equating to approximately $121bn, with $60 set to come and cash and remaining $22 to come in Broadcom shares.

This represents a 50% premium on Qualcomm's unaffected share price as of 2 November.

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The offer comes amidst Qualcomm's own takeover of NXP Semiconductors, however, Broadcom believes that the significant premium reflected in its own bid would represent a positive outcome for Qualcomm's shareholders regardless of this.

"Broadcom believes this offer is vastly superior to Qualcomm's standalone prospects, with or without the closing of the NXP transaction, and remains hopeful the Qualcomm board of directors will act responsibly on behalf of Qualcomm stockholders and engage with Broadcom on this offer without further delay," the company said.

Should the two firms come to an agreement, Broadcom remains confident that a takeover deal could be complete within 12 months.

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