Last November Qualcomm received an unsolicited takeover offer from Broadcom. The latter company offered $70 per Qualcomm share, at the time a 33% premium over the stock market value. A few days later, Qualcomm’s board promptly rejected the acquisition, on the grounds that Broadcom’s offer “dramatically undervalues” the company.
Broadcom hasn’t given up on the prospect of owning Qualcomm, though, and today it’s raised its hostile takeover bid to $82 per share, adding up to a total of $121 billion (up from $105 billion initially). Broadcom says this offer is its “best and final”.
The…