Broadcom ups its bid for Qualcomm, could be the "largest-ever technology deal"
Broadcom raises its bid to takeover Qualcomm which is considered the "largest-ever technology deal".
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Three months after saying no to Broadcom's US$105 billion bid, Qualcomm just confirmed that it has received a revised proposal from Broadcom.
In its latest proposal, Broadcom offers to acquire all outstanding shares of Qualcomm for US$60 per share in cash and US$22 per share in Broadcom stock. This translates to a record high bid of more than US$121 billion, which is 24% higher than Broadcom's US$105 billion offer last year.
Qualcomm states that its Board of Directors will review the revised proposal to determine the course of action it believes is in the best interests of the company and its stockholders.
If the bid is successful, Broadcom would become the third largest chipmaker behind Intel and Samsung. It would also be the "largest-ever technology deal", eclipsing Dell's US$67 billion purchase of EMC in 2015.
Source: Qualcomm, CNBC, MacRumors
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