Qualcomm says it will consider Broadcom takeover bid if raised to $160 billion

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Qualcomm has reversed its stance on an acquisition offer by its competitor Broadcom, provided it raises the takeover bid to $ 160 billion including $ 25 billion in debt assumed, according to the Financial Times. Broadcom initially proposed an unsolicited offer of $ 130 billion in November 2017, which was unanimously rejected by Qualcomm's board of directors.
Qualcomm rejected the first Broadcom deal for two reasons: Qualcomm said it underestimated the company and that it came with "significant regulatory uncertainty." The objection to "drastically devaluing" the company gave indications that Qualcomm could be open to a higher offer, and today's news seems to confirm that Qualcomm reiterated that Broadcom's offer was not enough and is asking it to rise to more of $ 90 per share. The two companies had been dancing around the deal in recent months, with Qualcomm continuously rejecting Broadcom's increased offers until last week, when Broadcom reduced the offer to $ 79 per share after Qualcomm announced it had reached an agreement. to acquire NPX Semiconductors.
If an agreement is reached, the merger between Qualcomm and Broadcom will be the largest technology agreement ever reached, and would make the new company the third-largest chip maker in the world behind Intel and Samsung. The news comes a few days before Qualcomm's annual shareholders meeting, which also includes the election of board members.

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