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Monday, February 05, 2018
Broadcom Makes Final Offer for Qualcomm


Broadcom has officially made an improved and final - according to the company - offer to acquire all of the outstanding shares of common stock of Qualcomm.

Under the terms of the offer, Qualcomm stockholders would receive an aggregate of $82.00 per each Qualcomm share, consisting of $60.00 in cash and the remainder in Broadcom shares.

Broadcom's previous $70 per share offer consisted of $60 per share in cash and $10 per share in stock.

The improved offer, which has been unanimously approved by the Board of Directors of Broadcom, represents a 50% premium over the closing price of Qualcomm common stock on November 2, 2017, the last unaffected trading day prior to media speculation regarding a potential transaction.

Broadcom says its improved offer is premised on either Qualcomm acquiring NXP Semiconductors N.V. on the currently disclosed terms of $110 per NXP share or the transaction being terminated and is also premised on Qualcomm not delaying or adjourning its annual meeting past March 6, 2018.

Broadcom says it remains confident that the proposed transaction would be completed within approximately 12 months following the signing of a definitive agreement.

Qualcomm in November rejected Broadcom's $70 per share cash-and-stock bid that valued the company at $103 billion.

Qualcomm confirmed that it has received the revised proposal from Broadcom. The company's Board of Directors will review the revised proposal to determine "the course of action it believes is in the best interests of the company and its stockholders."

Qualcomm had said Broadcom's previous offer significantly undervalued the company and any deal would face regulatory challenges in several countries.



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