Singapore-based chip manufacturer Broadcom has laid down a $121bn "best and final offer" to buy US semiconductor maker Qualcomm in what could be the biggest-ever tech acquisition. Broadcom's cash and increased stock offer is subject to a shareholder vote, and the company added it would pay a "substantial" reverse termination fee should regulators axe the deal. Qualcomm, which is in a dispute with Apple and recently unveiled a more than 18 months profit target based on $1bn of cost reductions, said its board of directors would review the latest offer.
Singapore-based chip manufacturer Broadcom has laid down a $121bn "best and final offer" to buy US semiconductor maker Qualcomm in what could be the biggest-ever tech acquisition. Broadcom's cash and increased stock offer is subject to a shareholder vote, and the company added it would pay a "substantial" reverse termination fee should regulators axe the deal. Qualcomm, which is in a dispute with Apple and recently unveiled a 2019 profit target based on $1bn of cost reductions, said its board of directors would review the latest offer.