Broadcom is adjusting its buyout offer for Qualcomm

SAN JOSE, Calif. (AP) — Broadcom is adjusting its buyout offer for Qualcomm, a day after that chipmaker raised its bid for NXP Semiconductors to approximately $43.22 billion.

Broadcom Ltd. said Wednesday 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.

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.

Free News Delivery by Email

Would you like to have the day's news stories delivered right to your inbox every evening? Enter your email below to start!

Leave a Reply

Your email address will not be published. Required fields are marked *

For security, use of Google's reCAPTCHA service is required which is subject to the Google Privacy Policy and Terms of Use.

I agree to these terms.

This site uses Akismet to reduce spam. Learn how your comment data is processed.