Qualcomm urged peer Broadcom to enter into direct negotiations on a price for merging the two companies and said they had made progress on regulatory and other deal certainty issues at a meeting last week.
Qualcomm maintained that all of Broadcom’s previous offers materially undervalued the company.
“The Board encourages Broadcom to enter into mutual due diligence and price negotiations,” Qualcomm said.
Broadcom last week cut its bid for Qualcomm by 4 percent to $117 billion (7.57 lakh crores), after the latter raised the stakes in the chipmaker takeover battle with a sweetened $44 billion agreement to acquire NXP Semiconductors NV.
This article was sourced from Gadgets360