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.

See also:

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.

Share

Featured Articles

How Dell is Doubling Down on AI After 40 Years of Innovation

Founded 40 years ago, Dell Technologies is launching AI-powered hardware and forging partnerships to drive responsible AI adoption across industries

Zoom Leads with Post-Quantum Encryption Amid Quantum Threat

Zoom's pioneering move to implement post-quantum encryption highlights the urgency for businesses to fortify defences against the coming quantum threat

NTT Brings AI and Data Innovation to the Indianapolis 500

NTT is harnessing cutting-edge technologies like AI and data analytics to revolutionise how the Indianapolis 500 race is competed and experienced by fans

Salesforce & IBM Partnership to Drive AI, Data Deployment

AI & Machine Learning

FC Barcelona & Fortinet: Cybersecurity Takes Centre Stage

Cloud & Cybersecurity

Google Cloud Generative AI Ops Drives Enterprise AI Adoption

AI & Machine Learning