Now, under the final deal of the acquisition, Qualcomm shareholders will end up receiving $60 in cash and the remaining $22 in Broadcom stock. Given Qualcomm's roughly 1.5 billion outstanding shares, the new offer values the company at about $120.8 billion.
As insane as it sounds, financial analysts believe the "appropriate" amount could reach as much as $10 billion if Qualcomm says yes to Broadcom's "best and final offer", and then the transaction is torpedoed by regulatory agencies.
Broadcom has offered its own slate of candidates for Qualcomm's board at the company's March 6 shareholders meeting. Qualcomm's leadership fiercely opposes it, while analysts have said that even if shareholders approved the deal, it could be rejected on antitrust grounds.
The company's stock was trading at $64.50, down 2.5 percent, an hour after markets opened in NY on Monday. The increase, though, is coming entirely in Broadcom shares, which may indicate that Broadcom simply can't raise the funds to increase the cash element of its offer on the open market.
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Foles got emotional speaking about his daughter and wife during a press conference ahead of the Super Bowl last Tuesday. They're big, athletic and tough on the line of scrimmage on offense and on the line of scrimmage on defense.
Rival chipmaker Broadcom raised its bid for Qualcomm by 24% to $121 billion in a cash and stock offer.
In the updated offer, Broadcom said it will pay Qualcomm a significant "reverse termination fee" in the event they are unable to obtain required regulatory approvals.
He wants Qualcomm for its leading smartphone modem chip division, an example of what he has called a "franchise" that will continue to dominate.
Broadcom says that its offer is premised on two conditions.
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Gayoom's lawyer and nephew Maumoon Hameed said on Twitter that his uncle had been informed of the imminent transfer by police. Several countries have warned against travel to the country, which depends heavily on tourism, at the peak of the season.
Broadcom previous year proposed a slate of 11 new Qualcomm board members as part of its effort to win approval.
Should Qualcomm accept the offer, Broadcom envisions the acquisition being complete within 12 months.
Qualcomm in November rejected Broadcom's initial $103 billion offer for the company, arguing it undervalued Qualcomm. But Qualcomm also helped South Korea's Samsung Electronics and many Chinese competitors, which churned out a flood of low-cost iPhone rivals and made smartphones affordable to many more people.
In a statement, Qualcomm said that it was considering the new bid.
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Benchmark indices of Australia, Shanghai, Hong Kong, Indonesia, Japan, Malaysia, Singapore and Taiwan are down 2.8% - 5%. It is still higher than the five-year and 10-year historical averages of 15.6 times and 14.94 times, respectively.
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