Broadcom hopes to woo Qualcomm with a higher takeover bid
Broadcom clearly isn't taking Qualcomm's "no" for an answer. Reuters sources have claimed that the wireless chip giant is about to raise its takeover bid for Qualcomm from $70 per share to between $80 and $82 per share -- a huge increase for a deal that would have already set records . It would also include a "higher-than-usual" breakup fee in case regulators put the kibosh on the merger. While details are reportedly in flux, Broadcom would announce the sweeter offer on February 5th. Neither company has commented so far. This might work. Qualcomm originally rebuffed Broadcom because its first offer "significantly undervalues" a company that's considered a cornerstone of the cellular world. At the same time, this wouldn't address all of Qualcomm's gripes. Broadcom has sworn that it could wrap up a deal within a year, but Qualcomm has said it would more likely take 18 months and could easily run into trouble. A unified company wou...