Qualcomm board to discuss next steps after Broadcom meeting

By: Bloomberg |
Published: February 15, 2018 1:33 pm

Last week, Qualcomm’s board rejected Broadcom’s ‘best and final’ proposal of a share, which San Diego-based Qualcomm has dismissed as too low. (File Photo)

Qualcomm Inc said its board will convene to discuss the next steps on Broadcom Ltd’s $121 billion acquisition offer after a meeting with its hostile suitor on Wednesday, giving no indication of whether the two chipmakers are closer to agreeing on the largest deal in the history of technology.

“We met with representatives of Broadcom for two hours earlier today, and listened carefully to what they had to say,” Qualcomm said in a statement after the meeting in New York. “The Qualcomm board will promptly meet to discuss the meeting and to determine next steps.” While Qualcomm’s representatives listened, they didn’t engage…

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