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Broadcom considering raising offer to buy Qualcomm

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Posted at 5:16 PM, Nov 22, 2017
and last updated 2017-11-22 20:32:38-05

SAN DIEGO (KGTV) -- Broadcom Ltd is considering raising its offer to buy Qualcomm Inc by offering more of its own stock, according to Reuters.

Broadcom previously offered to pay $103 billion for Qualcomm. The offer was made up of $60 per share in cash and $10 per share of its own stock.

RELATED: Broadcom makes offer to buy San Diego-based Qualcomm for $130 billion

Early in November, Qualcomm rejected the offer after the Board of Directors unanimously rejected the proposal.

Qualcomm shareholders indicated that they expect at least $80 per share in order to sell the company.

RELATED: San Diego-based Qualcomm rejects Broadcom's purchase offer

Qualcomm sells chips used in cell phones and other devices.