Qualcomm reportedly asking for more money before accepting Broadcom’s takeover bid

Coolcaesar at en.wikipedia

Looks like Qualcomm wants to resist a bit more before considering accepting a takeover deal from Broadcom, at least according to a Reuters report. Supposedly Broadcom’s US$70 per share offer, while setting a record, “undervalues” Qualcomm and doesn’t take into account any regulatory hurdles that they might need to overcome once the deal is done. According to Reuters sources, Qualcomm might object to the sale as early as November 13 but will probably take a few days before issuing a fuller response.

On Broadcom’s side, it seems they’re ready to raise its bid, according to the report. And it hopes to submit its own selection of directors for Qualcomm’s board. And if the shareholders want a deal, they could possibly vote for new board members and force Qualcomm to negotiate. Neither company is commenting on the report at the moment.

Source: Engadget