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US: Broadcom CEO ‘astonished’ that Qualcomm puts off merger talk

By  |  February 11, 2018

According to CNBC, in a filing submited on Thursday, February 8, Broadcom CEO Hock Tan wrote to Qualcomm executive chairman Paul Jacobs that he was “astonished” Qualcomm did not accept a weekend meeting to discuss a potential merger.

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    “Broadcom has long sought a meeting to discuss Broadcom’s acquisition of Qualcomm. Following Qualcomm’s announcement today that it is willing to meet with us, we offered to meet with Qualcomm on Friday, Saturday or Sunday. I was astonished to hear that Qualcomm is not willing to meet until Tuesday, only after Qualcomm’s and Broadcom’s respective meetings with Glass Lewis and ISS,” Tan wrote in the official letter.

    Qualcomm’s board said on Friday  that it had rejected a revised takeover bid from Broadcom. Broadcom had offered US$121 billion, its “best and final offer,” although Qualcomm felt it was “inferior” to its prospects as an independent company.

    Full Content: CNBC

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