In today’s episode of As the Semiconductor Industry Turns, Qualcomm has increased its offer for NXP from $39 billion to $44 billion as the former continues to fend off Broadcom’s hostile takeover bid.
“NXP is a highly strategic and attractive acquisition for Qualcomm that enhances the value of our leading 5G technologies,” said Qualcomm board chair Dr. Paul E. Jacobs in a statement.
“We also believe the revised agreement provides certainty for both Qualcomm and NXP stockholders.”
Qualcomm had initiated the deal with NXP in October 2016, well before Broadcom came calling last fall.
Broadcom recently increased its own offer for Qualcomm to $121 billion, a bid that was swiftly rejected.
The two sides did meet, though apparently they failed to make any headway in reaching a deal.