Qualcomm raises bid for auto chip maker NXP to $44 billion; Broadcom could hike offer for Qualcomm

Way before Broadcom made its initial bid for fellow chipmaker Qualcomm in November, the latter had gone after NXP Technologies. Qualcomm proposed a transaction for the largest producer of chips for automobiles, valued at $110 a share, back in October 2016. Since then, the deal has been approved by regulators around the world except in China. The regulatory agency in that country has yet to weigh in with a response.

While regulators have given the deal a thumbs up, NXP stockholders weren’t as happy with the price offered by Qualcomm. So this morning, the company raised its bid for NXP to …


Qualcomm rejects new bid from Broadcom

On Monday, chipmaker Broadcom raised its unsolicited bid for Qualcomm to $82 a share from $70. Broadcom said that it would pay $60 in cash and $22 of Broadcom stock for each Qualcomm share. On Thursday, the latter’s Board of Directors rejected the bid, stating that it undervalued the company, which is known for its Snapdragon line of chips for mobile devices.

In a letter from Qualcomm Chairman Paul Jacobs to Broadcom president and CEO Hock Tan, Jacobs wrote that Qualcomm has offered to meet with Broadcom to “address the serious deficiencies in value and certainty in its proposal.” However, …

Rumor: Broadcom to raise bid for Qualcomm to $80-82 a share from current $70 offer

According to a report published today, Broadcom is going to raise its unsolicited bid for fellow chipmaker Qualcomm to $120 billion from the current $103 billion offer that was put on the table last November, and rejected by Qualcomm. That deal works out to $70 a share and consists of $10 a cash and $60 in Broadcom stock for every share of Qualcomm. Broadcom is reportedly considering a new bid worth between $80 and $82 dollars a share. There is no indication how much cash will be included in a revised offer.

In addition to raising the value of its bid, Broadcom is said to be enticing Qualcomm …

LG changing strategy in a bid to turn smartphone fortunes around, will release new models "when it is needed"

Yesterday, we reported on LG’s apparent plans of delaying the announcement of its G7 flagship model to mid-March. Today, the Korean company revealed its intentions of changing its entire smartphone strategy in order to try and bring its mobile division back to profitability. 
Jo Seong-Jin, CEO of LG Electronics, disclosed some interesting information when speaking to Korean media at CES 2018. When asked for a potential ETA of the announcement of the G7, the chairman said that LG will unveil future handsets “when it is needed” and won’t necessarily do announcements …

Qualcomm investors say Broadcom will need to hike its bid to at least $80 to snag the company

It was exactly one week ago today that Qualcomm announced that it was rejecting Broadcom’s unsolicited $70 a share offer for the company that designs the Snapdragon line of mobile chipsets. The deal was to be a combination of cash and stock with each Qualcomm share to be exchanged for $60 in cash and $10 in Broadcom equity. The total value of the transaction would be approximately $105 billion, which would make it the most valuable acquisition in tech history.

Broadcom was willing to pay the big bucks despite the strong possibility that Qualcomm’s modem chip will be designed out of the 2018 …

Qualcomm turns down Broadcom's takeover bid; this could be the start of an epic Wall Street battle

As expected, Qualcomm this morning said no to the largest tech takeover bid in history. Fellow chipmaker Broadcom had offered $60 in cash and $10 in stock for each Qualcomm share, a transaction valued at $105 billion. Qualcomm told stockholders to reject the tender offer, stating that it amounts to Broadcom trying to buy it on the cheap. Despite the rejection, there are still ways that Broadcom can execute an end around past its target’s board.

Broadcom is said to be considering a proxy contest, asking Qualcomm stockholders to vote on replacing the latter’s current board with a slate of …

Qualcomm to reject Broadcom's unsolicited $103 billion bid?

Now that Broadcom has a $103 billion unsolicited bid on the table for fellow chip maker Qualcomm, the word from four people familiar with Qualcomm’s thinking is that the San Diego based provider of Snapdragon mobile chips is going to turn down the deal. Broadcom says that for every share of Qualcomm it receives, the latter’s stockholders will get $60 in cash and $10 in Broadcom stock.

The $70 face value of the transaction is a 28% premium from Qualcomm’s closing stock price the day before rumors about the merger first started to appear. Qualcomm’s Board of Directors is rumored to have met …

Report: Qualcomm to receive unsolicited takeover bid from Broadcom as soon as this weekend

According to a report in the WSJ, Qualcomm, currently embroiled in a number of lawsuits with Apple, is apparently about to receive an unsolicited takeover bid from semiconductor designer Broadcom. The deal could be announced as soon as this weekend and is expected to be made up of 80% to 90% cash, with the remainder in stock. Qualcomm’s shares soared 12.71% on the rumor, or $6.97, to $61.81. Broadcom’s stock also rose on the report, adding $14.13 or 5.45% to $273.63.

Qualcomm is known for its Snapdragon chipsets used to power many smartphones. The company’s modem chips have been used by …

Apple discontinued the 256GB Apple iPhone 7 in a bid to spur iPhone 8 sales

On September 12th, the day that the Apple iPhone 8, Apple iPhone 8 Plus and Apple iPhone X were unveiled, the tech titan stopped offering the 256GB Apple iPhone 7 and Apple iPhone 7 Plus. This comes from a report published today that cites an Apple customer service rep who confirmed the story. Actually, a trip to Apple’s online store shows that the Apple iPhone 7 and Apple iPhone 7 Plus are both now available only in 32GB and 128GB versions.

Apple did this to spur sales of the Apple iPhone 8 and Apple iPhone 8 Plus, both of which have a 256GB model. The upcoming Apple iPhone X also will …

Amazon keeps hiring engineers in a bid to keep Alexa on top

Amazon’s virtual assistant Alexa has had quite a year. Besides powering the leading smart speaker in the world in the Amazon Echo, smartphone manufacturers like Huawei, HTC and now Motorola have made room on certain of their handsets to include Alexa right alongside Google. And as other companies seek to make their own personal assistants more competitive, Amazon is willing to shell out the cash required to keep Alexa on top in 2018 and beyond.

In fact, according to the Wall Street Journal, Amazon is moving money and people off of other divisions and is moving the cash and hundreds of engineers …