Broadcom reportedly plans to announce a higher offer for Qualcomm on Monday, raising the offer from $70 per share to over $80.
Reuters, in an exclusive report, said Broadcom was scheduled to meet with its advisers late Sunday to finalize an offer that values the San Diego wireless pioneer at between $80 and $82 per share.
San Jose-based Broadcom’s previous offer was $60 per share in cash and $10 per share in Broadcom stock.
The move comes a month before Qualcomm’s shareholder meeting on March 6, at which Broadcom is seeking to replace Qualcomm’s board of directors with its own slate.
The new offer would value Qualcomm at $120 billion and would be the largest acquisition ever in the technology sector.
