Qualcomm and Broadcom will reportedly meet on Wednesday in order to discuss the latter’s $121 billion takeover offer, despite Qualcomm’s repeated rejections in the past.
Broadcom had wanted a meeting to take place this weekend, but agreed to meet on Wednesday instead, Reuters sources said on Monday. The company appears to have taken up a Qualcomm negotiation offer made last Thursday.
Qualcomm had complained about “serious deficiencies in value and certainty” in Broadcom’s bid, despite a boost from $70 to $82 per share and other proposed concessions —including an $8 billion payout if antitrust regulators quash an acquisition as too big. Both Broadcom and Qualcomm are major players in wireless mobile chips, and a combined entity might be almost unstoppable by smaller rivals.
Broadcom is meanwhile continuing its attempt to persuade Qualcomm shareholders to elect a takeover-friendly board of directors.
Any deal will have major ramifications for Apple, which not only counts on the two companies for parts but is engaged in a worldwide legal battle with Qualcomm. In fact Apple may be shoving Qualcomm chips out of 2018 iPhones in favor of Intel.