Qualcomm has said it will engage in negotiations with Broadcom, the clearest indication by the San Diego-based chipmaker that it is open to a potential takeover, reported CNBC.
After a meeting between executives from both companies on Friday, February 23, Qualcomm Chairman Paul E. Jacobs sent a letter to his rival, Hock Tan, published Monday, inviting Broadcom to enter into a nondisclosure agreement and conduct due-diligence talks in order to come to an agreement over price.
Broadcom cut its bid last week by 4% to US$117 billion after Qualcomm’s decision to raise its own bid for NXP Semiconductors to US$44 billion, a potential deal breaker for what would be the biggest ever technology merger.
Full Content: CNBC
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