Broadcom presents best and final offer for Qualcomm of $82.00 per share

Date: Tue, 02/06/2018 - 20:07 Source: Broadcom

Invites two Qualcomm directors, including Paul Jacobs, to join combined company's board
Broadcom presents best and final offer for Qualcomm of $82.00 per share

Broadcom at the Mobile World Congress, Barcelona


Broadcom Limited announced that it has made a best and final offer to acquire all of the outstanding shares of common stock of Qualcomm Incorporated.  Under the terms of the offer, Qualcomm stockholders would receive an aggregate of $82.00 per each Qualcomm share, consisting of $60.00 in cash and the remainder in Broadcom shares.
The significantly improved offer, which has been unanimously approved by the Board of Directors ofBroadcom, represents a 50% premium over the closing price of Qualcomm common stock onNovember 2, 2017, the last unaffected trading day prior to media speculation regarding a potential transaction, and a premium of 56% to Qualcomm's unaffected 30-day volume-weighted average price. 
Broadcom's improved offer is premised on either Qualcomm acquiring NXP Semiconductors N.V.("NXP") on the currently disclosed terms of $110 per NXP share or the transaction being terminated and is also premised on Qualcomm not delaying or adjourning its annual meeting past March 6, 2018.
Broadcom remains confident that the proposed transaction would be completed within approximately 12 months following the signing of a definitive agreement.
Additional details regarding the terms of the improved offer were included in a letter delivered by Broadcom to the Qualcomm board of directors.  Broadcom believes this offer is vastly superior to Qualcomm's standalone prospects, with or without the closing of the NXP transaction, and remains hopeful the Qualcomm board of directors will act responsibly on behalf of Qualcomm stockholders and engage with Broadcom on this offer without further delay. 



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