Qualcomm and Broadcom met yesterday amid tense veil of acquisition

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Members of Qualcomm board of directors met with senior Broadcom official for two hours yesterday to discuss details of the latter’s offer to acquire the company.

Broadcom initially offered $70 per share for its competitor chipmaker in November. After being rejected and under speculative eyes and regulatory doubt, it upped the offer to $82 per share. After rejecting the latest offer, Qualcomm penned a letter to Broadcom CEO Hock Tan listing its doubts on how the deal would survive regulatory muster and close in a short period. The company invited the executive to talk with them.

Well, at this point, we’re left wondering what Qualcomm’s “next steps” will be. Will a new deal be struck? Will the embattled company hold its line? Will it continue to fight for its current administration with a board of directors vote coming on March 6? That’s yet to be seen.

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About The Author
Jules Wang
Jules Wang is News Editor for Pocketnow and one of the hosts of the Pocketnow Weekly Podcast. He came onto the team in 2014 as an intern editing and producing videos and the podcast while he was studying journalism at Emerson College. He graduated the year after and entered into his current position at Pocketnow, full-time.