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1. Abolished the board election campaign shows good? Broadcom quote raised to 145 billion US dollars;
Original title: Abolition of the board election campaign showed good? Broadcom offer raised to 145 billion U.S. dollars to be friendly to buy Qualcomm
Reuters news sources, broke the news that Broadcom is currently preparing to raise the purchase price for Qualcomm, including debt, the second round of the offer as high as 145 billion US dollars.This move is considered Broadcom attempted to March 6 Qualcomm Winning votes for the board election at the general meeting.
Broadcom this time to give a very attractive price, quotes include is expected to rise from around 70 US dollars per share to 80-82 US dollars per share, and a 'higher than usual' spin-off fee, showing Broadcom The deal gives strong confidence in the final permit, which typically amounts to 3-4% of the deal size.
People familiar with the matter added that Broadcom CEO Hock Tan might also decide at the last moment to change the terms drastically (adjusting the purchase price).
According to a source close to Qualcomm's headquarters in San Diego, Qualcomm may not be too cold on the new offer, but he also said that if Broadcom raised the price of $ 80 a share, the chipmaker will face a combination of investor hopes and Broadcom merger pressure.
People close to Hock Tan said the 65-year-old Malaysian is determined to make the deal in a friendly manner, revealing that Hock Tan will scrap plans to replace Qualcomm's current board of directors and nominate new board members from Broadcom.
However, a new round of Broadcom quotes is destined to trigger the most intense hostile bidding war in semiconductor M & A history.
Qualcomm posted quarterly earnings and revenue outpacing analysts' estimates last week due to a surge in chip demand for smartphones and cars, however, the company forecast was below market expectations as telecom sales in China were tepid.
Qualcomm and Apple have infringement disputes Qualcomm said in order to protect the authorization process, there is a need to file a lawsuit Qualcomm is also working hard to secure its own acquisition, the company plans to acquire NXP Semiconductors for 38 billion US dollars.The transaction last month won the EU antitrust Regulators' approval, which has not been ratified by China, Qualcomm expects the Chinese government to approve the deal later this month.
NXP's deal outlook remains uncertain, with some shareholders, including radical hedge fund Elliott Management, asking Qualcomm to raise prices, and Qualcomm expects to make a decision later this month.
In addition, recently KGI analyst GUO Ming-ming in the latest investor report pointed out that Intel may become the apple 2018 all new iPhone's exclusive baseband chip supplier, and Qualcomm will be completely out of the way, before the change will be provided by Qualcomm and Intel Baseband chip to Apple's forecast, which Qualcomm is a big defeat.
At present, Intel's chip technology advances have been able to meet the performance requirements of Apple.China's baseband chip now supports CDMA2000 and dual-card dual standby, which provides more competitive prices.In addition, Guo Ming-ching pointed out that Apple is currently with Qualcomm Fight litigation, a comprehensive switch to Intel chips will weaken Qualcomm bargaining power.
Patent disputes, huge fines, lost big clients ... Looks like the surrounding environment is bad for Qualcomm.
In November last year, Broadcom proposed the first round of 70 US dollars per share offer, Qualcomm had responded that if Broadcom want to acquire Qualcomm, the need to increase the purchase price at least 80 US dollars per share. Whether the offer will impress Qualcomm shareholders (Proofreading / Liu Yang)
Qualcomm: The new offer of Broadband will be given at $ 82 a share.
SAN FRANCISCO, Feb. 5 (Xinhuanet) - Qualcomm confirmed today it has received the latest non-binding offer of $ 82 per share from Broadcom.
Qualcomm said Qualcomm's board of directors will work with financial and legal advisors to assess Broadcom's new quotes to determine whether the new offers are in the best interests of the company and its shareholders, out of accountability needs, and Qualcomm will cease to be valid until the board of directors completes its assessment Comment on this
Earlier in the day, Broadcom raised its offer for Qualcomm from $ 70 a share to $ 82 a share, of which $ 60 was paid in cash and the rest in the form of shares. Broadcom said it is " Best 'quote, but also the final bid.
In response, Daniel Ives, an analyst at research firm GBH Insights, said: "We think Broadcom's new offer is attractive and now it is a tricky choice for Qualcomm and its board of directors."
Ives also said: 'Through this increase offer can be seen in the acquisition of Qualcomm, Broadcom is serious and very positive.'
Analysts say any deal between the two companies may be subject to rigorous scrutiny by regulatory authorities in several countries for which the Federal Trade Commission (FTC) requested a second request last month. )
3. Broadcom will offer to raise the price of Qualcomm 82 dollars per share for the final offer;
SAN FRANCISCO, Feb 5 (Bernama) - Broadcom Corp. today announced that it has raised its offer for QUALCOMM to $ 82 a share, of which $ 60 is paid in cash and the remainder in the form of shares. Broadcom said it is the 'best' and the final bid that reflects Qualcomm's value.
The latest offer is 50% premium to the closing price of Qualcomm on November 2, 2017 (the last trading day prior to the deal being exposed by the media) .With the weighted average of 30 trading days prior to November 2 Than the premium of 56%.
Broadcom also raised two prerequisites: 1) Qualcomm acquired NXP for the current $ 110 offer per share, or terminated the transaction; 2) Qualcomm could not Postponed to be held on March 6 this year, the annual general meeting, can not adjourn.
In addition to raising prices, Broadcom also promised to invite Qualcomm executive chairman Paul Jacobs and another Qualcomm director to join the merged board of directors of the new company, Broadcom also pointed out that if the two companies can sign the final acquisition Agreement, Broadcom is confident to complete the transaction within 12 months after signing the contract.
On November 6 last year, Broadcom proposed a 70-dollar cash and stock purchase Qualcomm.On Nov. 13, Qualcomm's board of directors rejected Broadcom's offer, that Broadcom's offer underestimated the value of Qualcomm.
Broadcom announced on December 4 that it has nominated 11 directors to replace all Qualcomm board members, a move that Broadcom has taken the first step in a hostile takeover of Qualcomm.
On December 22, Qualcomm announced that upon the proposal of the Corporate Governance Committee, the board of directors of the Company unanimously decided not to appoint any of the 11 board candidates nominated by Broadcom at the annual general meeting of shareholders held on March 6, 2018 (Lee Ming)
4. Broadcom CEO Chen Fuyang: still hope to start a constructive dialogue with Qualcomm
SAN FRANCISCO, Feb. 5 (Xinhuanet) Hock Tan, Broadcom CEO, said today that it expects QUALCOMM's board of directors to start a dialogue with Broadcom on the acquisition as soon as possible in the interest of its shareholders.
Broadcom announced earlier today it has raised the offer for QUALCOMM to $ 82 a share from $ 70 a share, of which $ 60 was paid in cash and the rest in the form of shares, Broadcom said. Qualcomm's 'best' offer is also the 'final' bid.
Broadcom also said Broadcom is confident to complete the deal within 12 months of signing up if both companies can sign the final takeover agreement, and if it can not be completed within 12 months of signing up, Broadcom will pay Qualcomm one Pencom will pay a huge breakup fee if the deal is vetoed by antitrust authorities and analysts say the Broadcom move is intended to reassure Qualcomm investors while also demonstrating Broadcom's determination.
Broadcom CEO Chen Fuyang, said in a statement: 'Our offer contains a large part of Broadcom shares, which will enable Qualcomm shareholders in the future have the opportunity to benefit from the merger of the two companies benefit.
Our offer is more attractive than other opportunities Qualcomm has and for the benefit of our shareholders we still hope Qualcomm will have the option of talking to us. '
Chen Fuyang also pointed out that unless the final deal with Qualcomm acquisition agreement, or Broadcom nominated 11 candidates for directors at Qualcomm's annual shareholders' meeting on March 6 this year, the election will be withdrawn Qualcomm will immediately withdraw from the acquisition of Qualcomm .
Regarding the review of antitrust agencies, Chen Fuyang said in an interview that Broadcom has contacted many regulatory authorities and found that antitrust issues are not an unsolved problem.
Informed sources said Broadcom this time to increase the offer, is hoping to be a friendly way to achieve the deal.For Broadcom's new offer, Qualcomm subsequently responded that the joint financial and legal consultants will jointly evaluate the new offer to Determine whether it is in the best interests of the company and its shareholders.