1. Broadcom Lowers Bid for Qualcomm to $79 Per Share, Down From $82 Per Share

    Broadcom Lowers Bid for Qualcomm to $79 Per Share, Down From $82 Per Share

    Broadcom and CEO Hock Tan had previously said a merger between Qualcomm and NXP Semiconductors would lower the value of the company...

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    1. Broadcom believes that a responsible Qualcomm board could have preserved value by following [proxy advisor Institutional Shareholder Services]'s clear recommendation to work with Broadcom on the NXP transaction and negotiate the sale of Qualcomm to Broadcom.
    2. Broadcom remains confident that Qualcomm's stockholders will continue to support its proposal to acquire Qualcomm, and looks forward to concluding a transaction with this Qualcomm board of directors, or the newly elected Qualcomm board following its annual meeting.
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