Qualcomm, top executives met with Broadcom Wednesday, February 14, for the first time to confer the revised US$121 billion bid as a possible deal, CNBC reported.
The meeting was attended by Chief Executive Officer Steve Mollenkopf, Chief Financial Officer George Davis and Chairman Paul Jacobs, among others, according to Qualcomm, CNBC reported.
“We met with representatives of Broadcom for two hours earlier today,” Qualcomm said, adding that its board would meet to determine the next steps. It is the first meeting since Qualcomm rejected Broadcom’s revised cash-and-stock bid of US$82 per share last week, CNBC reported.
Qualcomm said the new offer still undervalues it and falls short on firm commitments on regulatory issues, CNBC reported.
The outcome of the meeting will determine whether Qualcomm, which has resisted Broadcom’s takeover approach since November, will engage in negotiations or continue to defend itself by rallying its shareholders, who are scheduled to vote on March 6 on replacing the majority of its board with Broadcom nominees, reported Reuters.
Full Content: CNBC
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
Featured News
Redfin Settles $9.2M Commission Inflation Lawsuits
May 7, 2024 by
CPI
DOJ Supports Colorado’s Efforts to Block Kroger-Albertsons Merger
May 7, 2024 by
CPI
Japan Considers Regulation of AI Developers
May 7, 2024 by
CPI
European Commission Extends Decision Deadline for Ita-Lufthansa Merger
May 7, 2024 by
CPI
UK, US and Australia Sanction Senior Leader of LockBit Cybercrime Gang
May 7, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – Economics of Criminal Antitrust
Apr 19, 2024 by
CPI
Navigating Economic Expert Work in Criminal Antitrust Litigation
Apr 19, 2024 by
CPI
The Increased Importance of Economics in Cartel Cases
Apr 19, 2024 by
CPI
A Law and Economics Analysis of the Antitrust Treatment of Physician Collective Price Agreements
Apr 19, 2024 by
CPI
Information Exchange In Criminal Antitrust Cases: How Economic Testimony Can Tip The Scales
Apr 19, 2024 by
CPI