Wednesday, 13 November, 2019

Qualcomm, Broadcom hold talks over revised $121 bln bid

Qualcomm, Broadcom hold talks over revised $121 bln bid Qualcomm, Broadcom hold talks over revised $121 bln bid
Russell Knight | 15 February, 2018, 12:42

The Qualcomm Board will promptly meet to discuss the meeting and to determine next steps.

Reports surfaced Monday saying that Broadcom and Qualcomm officials will meet Wednesday to iron out what could be the final details of Broadcom's proposed acquisition.

Qualcomm participants in Wednesday's meeting were Board Chair Paul E. Jacobs, Presiding Director Tom Horton, Chief Executive Officer Steve Mollenkopf, President Cristiano Amon, Chief Financial Officer George Davis, and General Counsel Don Rosenberg.

In a statement, Broadcom CEO, Hock Tan, stated that "Qualcomm stockholders have consistently communicated to us their support" for the proposed buyout.

$765.33 Million in Sales Expected for Endo International plc - (ENDP) This Quarter
Endo Int'l Plc (NASDAQ:ENDP)'s price sits -16.12% off from its SMA 50 of $7.45 and -31.14% away from the SMA 200 which is at $7.9. Following the transaction, the chief operating officer now owns 181,369 shares of the company's stock, valued at $1,396,541.30.

University student threatened with knives during home invasion
The Indian national, who moved to Australia a year ago, said he had yet to tell his family overseas of the terrifying experience. They crashed it a short time later in the nearby suburb of Braybrook.

Taiwan Semiconductor (TSM) Position Has Increased by Veritas Investment Management Uk Ltd
The stock of Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM) earned "Buy" rating by HSBC on Tuesday, January 16. HSBC upgraded Taiwan Semiconductor Mfg. from a "hold" rating to a "buy" rating in a research note on Tuesday, January 16th.

Broadcom's $121 billion unsolicited bid to acquire communications technology giant Qualcomm may be about to come to a head. On both occasions, Qualcomm declined, so now Broadcom appears to be moving forward with a hostile takeover strategy. Broadcom originally wanted to wipe the slate clean and replace all 11 seats on the board, but this has since been revised, with Broadcom aiming to take over six spots on the board and thus, ensuring majority control.

Broadcom had said earlier that its revised offer was contingent on either Qualcomm buying NXP at now disclosed terms of $110 per share in cash or the $38 billion deal being terminated. Simply put, Qualcomm has thawed a bit to Broadcom's overture.

Given the compelling value and clear regulatory commitments we have demonstrated, we believe that any rational board would make negotiating a merger agreement its top priority.

With that in mind, the company is seeking to strike a balance between continued resistance to Broadcom's takeover and heeding the calls of shareholders who have urged the company to engage with its rival in case it can clinch an attractive deal. Broadcom, built by acquisitions, has generated better stock returns. In the same interview Tan questions the NXP acquisition, Qualcomm 4G success but also underlined that if this proposal gets rejected, he is ready to walk away.

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