Broadcom adjusts its buyout offer for Qualcomm
A tie-up with Broadcom would be the largest tech deal in history
Broadcom Ltd. is adjusting its buyout offer for Qualcomm Inc., a day after that chipmaker raised its bid for NXP Semiconductors to approximately $43.22 billion.
San Diego-based Qualcomm Inc. makes the Snapdragon chips used in smartphones and tablets. A tie-up with Broadcom would be the largest tech deal in history.
Broadcom says its revised offer includes $57 in cash and $22 in Broadcom shares. Its prior bid included $60 in cash and the rest in stock. Broadcom said that if Qualcomm doesn’t complete the NXP takeover, it will go back to offering $60 in cash and the rest in Broadcom stock. The proposed deal’s value still tops more than $121 billion in cash and stock.
Broadcom said the rest of the terms are unchanged, including an $8 billion termination fee.