giftedviz.com
giftedviz.com February 25, 2018


Broadcom Raises Offer for Qualcomm

07 February 2018, 12:32 | Megan Pierce

Broadcom made an unsolicited bid for the chip maker

Latest Consumer Technology Products On Display At CES 2017

Qualcomm in November rejected Broadcom's US$70 per share cash-and-stock bid that valued the company at US$103 billion. The Qualcomm board rejected Broadcomm's prior offer, complaining that it "dramatically [undervalued]" the Snapdragon designer and came with too much regulatory uncertainty.

Broadcom raised its bid for rival computer chipmaker Qualcomm on Monday to $121 billion, offering the richest-ever takeover effort in the tech sector in an effort to become the dominant player in the fast-growing market for connected devices. That $60 offer is a 50% premium over Qualcomm stock's closing price on November 2, 2017.

Qualcomm confirmed that it had received the higher offer but said it would not comment until it had reviewed the materials with its advisors.

To further sweeten the deal and address regulatory concerns, Broadcom said it would be willing to increase the cash portion of the deal if the sale was not completed within a year of agreeing to terms. It has also proposed to pay Qualcomm a "reverse termination fee" of up to $10 billion if regulators block the deal.

Broadcom's new offer would give Qualcomm shareholders $60 per share in cash, the same cash payment the company offered previously. The increase in stock means Broadcom shareholders will have to vote on the offer.

EnLink Midstream, LLC (ENLC) EPS Estimated At $0.17
It also upped Direxion Shs Etf Tr stake by 492,359 shares and now owns 644,308 shares. 4,240 were accumulated by Altavista Wealth. The stock of Dominion Energy Midstream Partners, LP (NYSE:DM) has "Buy" rating given on Wednesday, August 2 by Stifel Nicolaus.


Two Dead After Strong Earthquake Rattles East Coast of Taiwan
At least two people have died and 114 people have been injured, according to Taiwanese Premier William Lai. A building was seen tilting on its side after a powerful natural disaster near Taiwan's coast.


Apple Music might soon surpass Spotify in paid subscriptions
The fact that Apple's ability to bundle Apple Music trials with its popular devices is paying off is good news for our industry. A month ago Spotify has claimed that it has 70 million paid subscribers , making it almost twice as large as Apple Music .


Qualcomm's stock was down 4% at $63.38 per share. Broadcom's original offer had drawn an abrupt rejection: "No company is better positioned in mobile, IoT, automotive, edge computing and networking within the semiconductor industry".

Broadcom also said it is prepared to pay a significant termination fee if the deal can not obtain the required government regulatory approvals. Activist investor Paul Singer has already demanded that Qualcomm raise its offer for NXP. He wants Qualcomm for its leading smartphone modem chip division, an example of what he calls a "franchise" that will continue to dominate, according to Bloomberg.

The renewed bid comes a month before Qualcomm's annual shareholder meeting, when Broadcom hopes to replace Qualcom's current board of directors.

Tan, in the letter, said Broadcom has commitment papers with financiers to fund the transaction and that its board will invite Qualcomm's chairman and one other Qualcomm director to join Broadcom's board after completing the deal.

The bid was meant to bring Qualcomm back to the negotiating table, ahead of Qualcomm's shareholder meeting on March 6.



Other News

Trending Now

Paul Heckingbottom reportedly to be named as new Leeds United boss
And it's proved to be the final straw for the United board, who last night made a decision to sack manager Thomas Christiansen . During the game Leeds' Pontus Jansson was taken off on a stretcher, while Gaetano Berardi was sent off for two yellow cards.

Aubameyang scores as Arsenal put five past Everton
Stopper David Ospina came off the bench and continued for the next 20 minutes between the posts. Arsenal are now sixth in the Premier League, eight points behind Chelsea in fourth place.

Taiwan stocks extend losses to 2.3 pct after weekend quake
The natural disaster was the deadliest quake in Taiwan since the 921 earthquakes in 1999. A 7.6 magnitude natural disaster hit Taiwan in 1999, killing more than 2,500 people.

Ethan Hunt Returns In 'Mission: Impossible - Fallout'
I just hope it's better than the last outing, which was kind of okay but also really disappointing and it felt kind of small. Then, a leaked video from the set sparked speculation that Cruise was supposed to land on a rooftop but missed his jump.

Sexton drop goal grabs dramatic victory for Ireland in Paris
Dupont was taken off for a HIA, when replays showed the French player seemingly going down with a knee injury . Next up: Ireland return to Carton House to prepare for next Saturday's visit of Italy to the Aviva Stadium.

Ryanair cautious despite profit rise
Mr O'Leary added: "We would, even at this early date, urge extreme caution on investor and analyst assumptions for fares". As talks with other unions now continue, the airline is expected to also extend union recognition to cabin crew.

Dwayne Johnson tests his limits in Skyscraper Super Bowl teaser
Also with a premise like this and just right down to the title and poster, you can't get more " Dwayne Johnson " than this movie. The movie looks like a healthy mix of Die Hard , Mission Impossible and frankly, like any other The Rock starrer, to be honest.

Aiding Egypt, Israel Carried Out Over 100 Strikes Against ISIS in Sinai
The Sinai Peninsula has become a safe haven for terrorists and jihadist activity in recent years. Apart from Jordan, Egypt is the only Arab country, which is in a peace agreement with Israel.

Scary hit knocks Patriots WR out of Super Bowl
The Patriots star received a pass from Tom Brady before Jenkins flattened him with a scary hit that Cooks didn't see coming. New England Patriots and former New Orleans Saints wide receiver Brandin Cooks will miss the second half of Super Bowl 52.

China's services activity increases
Service providers meanwhile registered a faster rise in cost burdens, with the rate of inflation the steepest since April 2012. Nonetheless, panelists mentioned that sustained rises in sales, acquisitions and new offerings underpinned output expansion.