Wow … $121 Billion! Now that’s a lot of money.
Taking an if-you-can’t-beat-them-buy-them approach, Broadcom attempted to buy rival chipmaker Qualcomm last year for $105 billion. However, Qualcomm considered that Broadcom undervalued the company and shot down Broadcom’s bid in a heartbeat. Fast forward to present day, Broadcom today announced that they’ve increased their bid to $121 billion. The company also stated that this was their “best and final” offer. In this new deal, Qualcomm stockholders would receive $82 per share which consists of $60 in cash and $22 in Broadcom shares. If the purchase is completed, it would go down as the biggest tech deal in history surpassing Dell’s acquisition of EMC in 2015 for $67 billion. But more importantly, Broadcom would have the assets to compete against rivals in the likes of Intel and Samsung. Qualcomm confirmed that they’ve received Broadcom’s offer and will review it with their Board of Directors.
Source: TPU
