Roger Fingas
Qualcomm and Broadcom will reportedly meet on Wednesday in order to discuss the latter's $121 billion takeover offer, despite Qualcomm's repeated rejections in the past.
Broadcom had wanted a meeting to take place this weekend, but agreed to meet on Wednesday instead, Reuters sources said on Monday. The company appears to have taken up a Qualcomm negotiation offer made last Thursday.
Qualcomm had complained about "serious deficiencies in value and certainty" in Broadcom's bid, despite a boost from $70 to $82 per share and other proposed concessions — including an $8 billion payout if antitrust regulators quash an acquisition as too big. Both Broadcom and Qualcomm are major players in wireless mobile chips, and a combined entity might be almost unstoppable by smaller rivals.
Broadcom is meanwhile continuing its attempt to persuade Qualcomm shareholders to elect a takeover-friendly board of directors.
Any deal will have major ramifications for Apple, which not only counts on the two companies for parts but is engaged in a worldwide legal battle with Qualcomm. In fact Apple may be shoving Qualcomm chips out of 2018 iPhones in favor of Intel.
Malcolm Owen
Amber Neely
Christine McKee
Chip Loder
Marko Zivkovic
2 Comments
If they hammer out an agreement on Wednesday, whose Valentine Gift to whom would it be?
Apple's.