Broadcom and Qualcomm to meet and discuss the rejected US$121 billion bid
Broadcom and Qualcomm to meet and discuss on the rejected US$121 billion bid
Qualcomm is reportedly meeting Broadcom later today to discuss the latter's failed second bid.
Sources told Reuters that Qualcomm has offered to meet Broadcom on 14 February to assess if it can address "serious deficiencies in value and certainty in its proposal". Broadcom initially wanted to meet over the weekend but has now agreed to the new schedule. If true, this will be the first time that both companies are meeting to discuss a potential deal.
Broadcom made its first bid in November 2017, but was turned down by Qualcomm as the latter feels that the offering "dramatically undervalues" the company and that it also comes with "significant regulatory uncertainty."Earlier this month, Broadcom revised its proposal and made a second bid for Qualcomm.