Broadcom Reiterates $82/share Offer For Qualcomm; Urges To Meet This Weekend

(RTTNews) - Broadcom Limited (AVGO) reiterated that $82 per share is the company's best and final offer for Qualcomm. Broadcom urged Qualcomm to meet with without further delay, and the company stands ready to meet this Saturday or Sunday.

"Following Qualcomm's announcement today that it is willing to meet with us, we offered to meet with Qualcomm on Friday, Saturday or Sunday. I was astonished to hear that Qualcomm is not willing to meet until Tuesday - only after Qualcomm's and Broadcom's respective meetings with Glass Lewis and ISS. The proposed merger agreement is highly favorable to Qualcomm and its stockholders and includes an $8 billion regulatory reverse termination fee and a 6% per annum regulatory ticking fee on the cash portion of the merger consideration (net of dividends). We want to reiterate that $82 per Qualcomm share is our best and final offer," said, Hock Tan, President and CEO.