1. Qualcomm's Need to Up NXP Offer Gets Real With Broadcom Takeover Bid Looming

    Qualcomm's Need to Up NXP Offer Gets Real With Broadcom Takeover Bid Looming

    Qualcomm Inc. ’s negotiating room is shrinking fast as it tries to close the planned $47 billion purchase of NXP Semiconductors NV while fending off a record-setting hostile takeover bid from Broadcom Ltd. Over the next two weeks, Qualcomm is facing a series of events -- earnings, a shareholder meeting, and possibly a decision on Chinese regulatory approval -- that will likely force it into negotiations with NXP stockholders, a move it’s been slow to engage in...

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    1. NXP shares are undervalued relative to the $110 Qualcomm offer and the current trading price.
    2. We see some false equivalence here.
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