Broadcom to Raise Offer for Qualcomm to About $120 Billion on Monday, Source Says
By Ted Greenwald
Broadcom Ltd. plans Monday to raise its offer for Qualcomm Inc. to around $120 billion, a person familiar with the matter said, a move aimed at increasing pressure on the takeover target in what would be the largest-ever technology deal.
Broadcom is expected to announce a new offer around 7 a.m. ET. It will be "in the ballpark" of $120 billion, though the terms aren't final yet, the person said.
Based on Qualcomm's share count in its latest Securities and Exchange Commission filing, the new offer would be in the vicinity of $80 to $82 a share.
(More to come.)
Write to Ted Greenwald at Ted.Greenwald@wsj.com
(END) Dow Jones Newswires
February 04, 2018 21:37 ET (02:37 GMT)Copyright (c) 2018 Dow Jones & Company, Inc.