Qualcomm willing to consider Broadcom's takeover bid at $160B: Report

Qualcomm has said that it is willing to consider Broadcom's takeover bid if the company raises the bid to $160 billion including $25 billion in unassumed debt, as per Financial Times report. This is the first time that Qualcomm has shown intent for its takeover by Broadcom after its board unanimously rejected the offer twice.

Qualcomm is insisting that Broadcom raises its offer by at least 15 percent to above $90 per share, up from its current $79 per share bid. The merger (if it happens) between Qualcomm and Broadcom will be the biggest tech deal ever struck and would make the new firm the world’s third-largest chipmaker behind Intel and Samsung.

The two companies have been negotiating the deal for several months with Qualcomm continually rejecting Broadcom's offers. Broadcom had initially offered $70 a share to acquire Qualcomm and then raised it to $82 a share in a hostile takeover bid after the San Diego-based company rejected the first bid. Qualcomm had rejected the bids stating Broadcom's bid was undermining the value of the company and came with significant regulatory uncertainty.

Meanwhile, Qualcomm is trying to acquire NXP Semiconductors for $38 billion.