Reports suggest Broadcom will wait until March 2018 to increase its $130 billion takeover offer for Qualcomm.
Unnamed sources in a Bloomberg report suggested Broadcom doesn’t anticipate increasing its $70 per-share offer until closer to a Qualcomm board meeting in March.
Meanwhile Broadcom still plans to nominate directors to Qualcomm’s board ahead of an 8 December deadline.
Reports earlier this month claimed Qualcomm investors want at least $80 per share as part of the biggest acquisition in the history of technology. Broadcom’s bid was officially turned down in mid-November after Qualcomm’s board said it “dramatically undervalues” the company.
Despite its resistance, Qualcomm is likely to face heightened pressure from some shareholders on its go-it-alone strategy. Just this week its wide-ranging and long-running patent battle with Apple ramped up: Qualcomm yesterday (30 November) said it filed three new patent infringement complaints against Apple, saying there were 16 more of its patents the vendor was using in its iPhones.
The new complaints follow an Apple countersuit on 29 November, which alleged Qualcomm’s Snapdragon mobile phone chips infringed on Apple battery patents.