Qualcomm invites Broadcom to last dance for $160bn

Qualcomm invites Broadcom to last dance for $160bn

NEWSBYTE: US fabless chipmaker Qualcomm says it would drop its objections to being acquired by bitter rival Broadcom, if the Singapore-based company increases its takeover bid. Qualcomm has been fending off Broadcom’s attentions on antitrust grounds.

According to the FT, Qualcomm is insisting that Broadcom raises its offer by 15 percent to $90 a share, valuing the company at $160 billion – including $25 billion in debt. Broadcom’s current offer of $117 billion already makes it the largest (potential) tech acquisition in history, after a starting bid of £$103 billion in November.

However, Reuters reports that Broadcom has publicly dismissed the move as “engagement theatre”, designed to wriggle out of the aggressive acquisition.

“Broadcom does not believe that the process outlined by Qualcomm today is designed to lead to a prompt agreement,” Broadcom said in a statement. Qualcomm responded by saying that “the ball is in Broadcom’s court”.

Internet of Business says

Last chance or last dance? The latest moves in the Qualcomm/Broadcom tango have a 13-year history of bitter feuding and litigation behind them. But it always felt like a courtship and a fiery romance. So will they finally embrace? Our bet is on £135 billion.

Read more: NEWSBYTE: Qualcomm extends portfolio to support IoT apps

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Chris Middleton
Chris Middleton is former editor of Internet of Business, and now a key contributor to the title. He specialises in robotics, AI, the IoT, blockchain, and technology strategy. He is also former editor of Computing, Computer Business Review, and Professional Outsourcing, among others, and is a contributing editor to Diginomica, Computing, and Hack & Craft News. Over the years, he has also written for Computer Weekly, The Guardian, The Times, PC World, I-CIO, V3, The Inquirer, and Blockchain News, among many others. He is an acknowledged robotics expert who has appeared on BBC TV and radio, ITN, and Talk Radio, and is probably the only tech journalist in the UK to own a number of humanoid robots, which he hires out to events, exhibitions, universities, and schools. Chris has also chaired conferences on robotics, AI, IoT investment, digital marketing, blockchain, and space technologies, and has spoken at numerous other events.