US: Broadcom pitches new board to Qualcomm shareholders

US: Broadcom pitches new board to Qualcomm shareholders

Chipmaker Broadcom took its first formal step on Monday, December 4, toward a hostile bid to take over Qualcomm, unveiling nominees whom Qualcomm shareholders can vote on to replace the US semiconductor company’s board of directors, according to people familiar with the matter. Broadcom’s move comes after Qualcomm rejected its US$103 billion cash-and-stock bid last month. […]

US/Japan: Broadcom rumored to consider sweetened Qualcomm bid

US/Japan: Broadcom rumored to consider sweetened Qualcomm bid

Chipmaker Broadcom is considering raising its offer to buy rival Qualcomm by offering more of its own stock, following consultation with several of Qualcomm’s top shareholders, according to people familiar with the matter. While the timing of the new offer is uncertain, Broadcom’s bid preparations indicate that it is planning to apply pressure on Qualcomm […]

US: Qualcomm bracing for $100b fight with Broadcom

US: Qualcomm bracing for $100b fight with Broadcom

Qualcomm is preparing to fend off an unsolicited US$100 billion takeover bid from Broadcom Ltd, arguing it undervalues the company, people familiar with the plans said, according to the Financial Times. Broadcom is preparing a US$70-a-share offer for Qualcomm, which could come as soon as Monday, November 6, said the people, who asked not to […]

US: Broadcom sizing up Qualcomm

US: Broadcom sizing up Qualcomm

On Sunday, November 5, the Financial Times reported that Broadcom CEO Broadcom CEO Hock Tan is preparing a US$100 billion unsolicited bid to acquire rival chip maker Qualcomm. Shares of both companies jumped that same day after the report was released; Qualcomm by 12.7% and Broadcom by 5.5%. The news was released the same day […]

US: Broadcom again delays takeover of Brocade

US: Broadcom again delays takeover of Brocade

Broadcom has again delayed the closing of its planned takeover of Brocade, as it awaits clearance by US regulators. The deal is now expected to close on November 30. Broadcom said talks with the Committee on Foreign Investment in the United States (CFIUS) have resulted in the group withdrawing its application for merger clearance to […]

US: Broadcom wins antitrust consent to buy Brocade with conditions

US: Broadcom wins antitrust consent to buy Brocade with conditions

On Monday the US Federal Trade Commission (FTC) announced that Chipmaker Broadcom has received US antitrust approval to buy Brocade Communications Systems. The buyout had already received approval in Europe and Japan earlier this year. The US$5.5 billion deal is the latest in the chip industry as companies bulk up in response to growing demand for […]

EU: EC gives antitrust OK to Broadcom’s $5.9Bn Brocade buyout

EU: EC gives antitrust OK to Broadcom’s $5.9Bn Brocade buyout

Chipmaker Broadcom secured EU antitrust approval on Friday for its $5.5 billion bid for Brocade after pledging to cooperate with competitors and to protect their confidential data. Singapore-based Broadcom, formerly Avago Technologies, makes connectivity chips used in products ranging from mobile devices to servers, while California-based Brocade produces networking switches, software and storage products. “Broadcom […]

EU: Set to give Broadcom/Brocade approval

EU: Set to give Broadcom/Brocade approval

Singapore-based chipmaker Broadcom is set to win EU antitrust approval for its $5.5 billion bid for Brocade after agreeing to modest concessions in the latest consolidation deal in the chip sector, three people familiar with the matter said on Tuesday. Broadcom, formerly Avago Technologies, is known for its connectivity chips used in products ranging from […]