Beijing Morning Express Feb. 22, Broadcom Wednesday cut its offer for Qualcomm by 4% to $ 117 billion because of their opposition to Qualcomm's decision to raise NXP's offer to $ 44 billion.
Qualcomm responded by saying that Broadcom made the "not-enough offer" worse. "Qualcomm shareholders will elect a board of 11 people on March 6 to decide whether to hand over control to six Qualcomm-nominated candidates .
The alliance between Broadcom and Qualcomm will be the largest mergers and acquisitions in the technology industry ever, and the takeover battle has also become the focus of wireless warfare in the field of integration, in response to the dominance of companies such as Apple and Samsung chip prices down.
Broadcom said Qualcomm raised its offer to NXP's bid too high and decided to cut Qualcomm's own offer.
'Qualcomm's board of directors' actions are not in the best interests of shareholders, "Broadcom said in a statement.
CFRA Research analyst Scott Kessler believes the move adds to Qualcomm's acquisition of NXP and reduces the probability of a deal between Broadcom and Qualcomm.
Broadcom on Wednesday also criticized Qualcomm did not follow the advice of the agency consulting firm Institutional Shareholder Services to communicate before raising the quoted price of NXP.
QUALCOMM defended NXP's valuation on Wednesday, saying they will expand Qualcomm's market and help save costs, and they also said Broadcom has declined to communicate with Qualcomm's acquisition valuations, Qualcomm added, Trading with Broadcom is still subject to extremely high levels of regulatory uncertainty.
Qualcomm shares fell 0.5% on Wednesday to 63.53 US dollars, Broadcom also fell 0.40% to close at 248.62 US dollars.
Qualcomm on Tuesday announced NXP acquisition offer raised from $ 110 per share raised to 127.50 US dollars.