Qualcomm and Broadcom met yesterday amid tense veil of acquisition
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.