Qualcomm says it will consider Broadcom takeover bid if raised to $160 billion
Qualcomm has reversed its stance on an acquisition offer by competitor Broadcom, providing it raise the takeover bid to $160 billion including $25 billion in assumed debt, according to Financial Times. Broadcom initially proposed an unsolicited bid of $130 billion in November of 2017, which was unanimously rejected by Qualcomm’s board of directors.
Qualcomm turned down Broadcom’s first deal for two reasons: Qualcomm said it undervalued the company and came with “significant regulatory uncertainty.” The objection about “dramatically undervaluing” the company gave some indication that Qualcomm might be open to a higher offer, and today’s news seems to confirm this. Qualcomm restated that Broadcom’s offer was not sufficient and is asking…
