Qualcomm will refile an application with the Chinese government to approve the acquisition of NXP Semiconductors, according to Reuters. The proposed deal, in which Qualcomm will pay roughly US$44 billion, has become complicated due to political issues between China and the United States, both of which are embroiled in a fight over trade deals and […]
Late Sunday night, March 4, the US government asked Qualcomm to delay its annual shareholder meeting by 30 days citing national security concerns, reported The New York Times. The meeting, scheduled for Tuesday, March 6, was supposed to determine whether Singapore-based Broadcom could advance its bid to buy the company. The surprise move by a […]
Chipmaker Broadcom’s proposed $142bn hostile takeover of Qualcomm has given European lawmakers some reservations over data protection implications for EU citizens, reported the Financial Times. Recently Qualcomm secured a $44bn agreement to buy NXP, a Dutch group that makes chips for German passports, and European officials are uncomfortable with Broadcom having access to such information. […]
Qualcomm has said it will engage in negotiations with Broadcom, the clearest indication by the San Diego-based chipmaker that it is open to a potential takeover, reported CNBC. After a meeting between executives from both companies on Friday, February 23, Qualcomm Chairman Paul E. Jacobs sent a letter to his rival, Hock Tan, published Monday, […]
Qualcomm has boosted its bid for Dutch rival NXP Semiconductors, an increase that comes as the chipmaker faces a hostile takeover attempt by Broadcom, another technology giant. Qualcomm said it would pay US$127.50 a share for NXP, up from an earlier offer of US$110, and reduced its threshold requirement on shareholder support from 80% to […]
Paul Singer’s activist hedge fund has called on Qualcomm to increase its “insufficient” offer for Dutch chipmaker NXP Semiconductors, a move that could indirectly help the US company fend off a separate US$130 billion hostile takeover bid by rival Broadcom. Elliott Advisors, the UK arm of Mr Singer’s fund, said on Monday, December 11, that […]
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. […]
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 […]
The European Union’s competition watchdog may not decide on the fate of Qualcomm Inc.’s US$38 billion buyout of NXP Semiconductors NV until next year, according to comments made Wednesday, November 15, by European Commissioner for Competition Margrethe Vestager. People familiar with the matter told Reuters in October that Qualcomm has offered to buy NXP without […]
Qualcomm has firmly rejected Broadcom’s unsolicited offer to acquire the company, deeming the US$130 billion offered as a “significant undervaluation.” Last week, Broadcom offered to acquire Qualcomm in a deal worth US$130 billion, including debt, which would equate to US$70 per share in cash and Broadcom stock for shareholders. Broadcom said there are “compelling financial […]