Qualcomm To Assess Unsolicited Buyout Bid From Broadcom - Quick Facts

(RTTNews) - Qualcomm Inc. (QCOM) confirmed it has received a non-binding, unsolicited proposal from Broadcom Limited (AVGO) to acquire all of the outstanding shares of Qualcomm for per share consideration of $60.00 in cash and $10.00 in Broadcom stock.

Qualcomm's board of directors, in consultation with its financial and legal advisors, will assess the proposal in order to pursue the course of action that is in the best interests of the company's shareholders. Qualcomm said it will have no further comment until its board has completed its review.

Qualcomm's board and management have continued to execute on its strategy to position the company for the next phase of profitable growth by making focused investments in mobile into new opportunities, while maintaining financial discipline and a robust capital return program.

According to the company, it has significant opportunities to drive substantial additional value for its shareholders as its technology and product roadmap move into new industries.

Earlier today, Broadcom said it has offered to acquire all of the outstanding shares of Qualcomm for per share consideration of $70.00 in cash and stock.

The proposed transaction is valued at about $130 billion on a pro forma basis, including $25 billion of net debt, giving effect to Qualcomm's pending acquisition of NXP on its currently disclosed terms.