After Qualcomm on Tuesday hiked its offer for auto chip producer NXP by 16% to $44 billion ($127.50 a share), Broadcom today dropped its bid for Qualcomm by 4% to $117 billion. Qualcomm, which was already complaining that the offer valued the company too low, responded by saying that the move by Broadcom made "an inadequate offer even worse." The new, lowered bid works out to $79 a share, down from the previous $82 a share bid.
Broadcomm can still end up with its target depending on the outcome of a Qualcomm stockholder vote scheduled for March 6th. Broadcom has put up a slate of ...
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