Broadcom Announces Final Offer For Qualcomm - Quick Facts

(RTTNews) - Broadcom Limited (AVGO) announced the company has made a best and final offer to acquire all of the outstanding shares of common stock of Qualcomm Incorporated (QCOM). Under the terms of the offer, Qualcomm stockholders would receive an aggregate of $82.00 per each Qualcomm share, consisting of $60.00 in cash and the remainder in Broadcom shares.

Broadcom noted that the significantly improved offer represents a 50% premium over the closing price of Qualcomm common stock on November 2, 2017. Broadcom's improved offer is premised on either Qualcomm acquiring NXP Semiconductors on the currently disclosed terms of $110 per NXP share or the transaction being terminated and is also premised on Qualcomm not delaying or adjourning its annual meeting past March 6, 2018.

Hock Tan, CEO, said: "Our proposal includes substantially more Broadcom stock, which will allow Qualcomm stockholders a greater opportunity to participate in the upside created by the combined company's strategic and operational advantages. However, we will withdraw this proposal and cease our pursuit of Qualcomm immediately following your upcoming annual meeting unless we have entered into a definitive agreement or the Broadcom-nominated slate is elected."