Broadcom Makes 'Best and Final Offer' for Qualcomm

Broadcom made a $121 billion “best and final offer” for Qualcomm. The $82 per share includes $60 in cash and $22 in Broadcom stock, compared with its initial offer in November -- $70 per share, or $60 in cash and $10 in stock (see 1711060004). This "will allow Qualcomm stockholders a greater opportunity to participate in the upside created by the combined company's strategic and operational advantages,” Broadcom said Monday. “Broadcom's track record demonstrates our ability to consistently accelerate share price appreciation following acquisitions and indicates a substantial likelihood that we will exceed our synergies expectations.” Qualcomm's board, "in consultation with its financial and legal advisors, will review the revised proposal to determine the course of action it believes is in the best interests of the Company and its stockholders," that company responded.