Qualcomm, Broadcom To Meet
Qualcomm and Broadcom plan to meet today to talk about the latter’s $121 billion (A$153 billion) acquisition offer, the first time the semiconductor companies have discussed the potential deal.
The meeting comes after Broadcom raised its cash-and-stock offer last week from $70 to $82 per share, and made other concessions, including offering to pay Qualcomm an $8 billion breakup fee should antitrust regulators block the deal.
Qualcomm has said (CDN yesterday) that Broadcom’s new offer still undervalues it. However, it offered to meet Broadcom to see if it could address what it called “serious deficiencies in value and certainty in its proposal.”