Business News
Broadcom raises Qualcomm bid to more than $121 billion
Broadcom is boosting its buyout offer for Qualcomm to more than $121 billion in cash and stock, in what would be the largest tech deal in history.
Broadcom Ltd. said Monday that its “best and final offer” of $82 per Qualcomm share includes $60 in cash and the rest in Broadcom shares.
Qualcomm Inc. previously said that a $103 billion unsolicited acquisition offer undervalued the San Diego company, and criticized the individuals that Broadcom and Silver Lake Partners wanted to put on its board, saying that they were conflicted and had no incremental skills or expertise to offer.
Qualcomm didn’t immediately respond to a request for comment Monday. Qualcomm’s stock rose slightly in premarket trading, while shares of Broadcom dipped.
