Qualcomm may see Broadcom bump as early as next week
01 February 2018 - 12:00 am UTC
Broadcom [NASDAQ:AVGO] may be considering increasing its bid for Qualcomm [NASDAQ:QCOM] to around USD 80 per share as early as next week, it is understood.
Qualcomm is anticipating a bump, but does not have visibility on the timing, it is understood. This is still very much a hostile situation, and the two have not engaged, it was said. Broadcom, a fabless semiconductor company domiciled in Singapore with US headquarters in San Jose, unveiled a USD 103bn offer for San Diego-based peer Qualcomm late last year.
An increase on Monday or Tuesday next week (5-6 February), around a month before the target’s shareholders are due to vote on Broadcom’s proposed slate of 11 directors on 6 March, would fit with typical hostile situation timelines, it was said.
Broadcom and Qualcomm declined to comment.
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