Qualcomm, Broadcom Said to Be Planning February 14 Meeting

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Qualcomm and Broadcom plan to meet on Wednesday to talk about the latter’s $121 billion (roughly Rs. 7.77 lakh crores) acquisition offer, the first time the semiconductor companies will discuss the potential deal, people familiar with the matter said.

The meeting comes after Broadcom raised its cash-and-stock offer last week from $70 (roughly Rs. 4,500) to $82 (roughly Rs. 5,270) per share, and made other concessions, including offering to pay Qualcomm an $8 billion (roughly Rs. 51,500 crores) breakup fee should antitrust regulators block the deal.

Qualcomm said last Thursday that Broadcom’s new offer still undervalues it and falls well short of the firm commitments on regulatory issues it expected.

This article was sourced from Gadgets360

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