Broadcom boosted its unsolicited bid to acquire Qualcomm to $121 billion, or $82 per share, consisting of $60.00 in cash and the remainder in Broadcom shares.
Broadcom described the bid as its “best and final offer”, saying that it is prepared to pay to Qualcomm “a significant “reverse termination fee” in an amount appropriate for a transaction of this size in the unlikely event we are unable to obtain required regulatory approvals.”
Several conditions were placed on the new offer, including that Qualcomm completes its own acquisition of NXP on current terms or that this merger be sracapped. A second condition is that Qualcomm not delay or adjourn its annual meeting past March 6, 2018.
