Broadcom Adjusts Offer For Qualcomm To $79/shr; Other Terms Remain Unchanged

(RTTNews) - Broadcom Limited (AVGO) announced the company is prepared to acquire Qualcomm for $79 per Qualcomm share, consisting of $57 in cash and $22 in Broadcom shares. Broadcom adjusted its offer following the Qualcomm board's decision to transfer $4.10 per Qualcomm share from Qualcomm stockholders to NXP stockholders.

Broadcom noted that its proposed merger agreement for Qualcomm would provide for an automatic increase of $3 in cash per Qualcomm share, or a total of $82 per Qualcomm share, consisting of $60 in cash and $22 in Broadcom shares, in the event that Qualcomm is unable to complete the NXP acquisition.