Broadcom Secures Funding for Proposed Qualcomm Acquisition

Broadcom Limited (NASDAQ: AVGO) (“Broadcom” or the “Company”) today announced that it has signed committed financing agreements to fund its proposed acquisition of Qualcomm Incorporated (NASDAQ: QCOM) (“Qualcomm”). A group of 12 financial institutions have agreed to provide up to $100 billion of committed credit facilities, including a $5 billion revolving credit facility and bridge financing, and investment funds…

Broadcom-Qualcomm: A Merger of Equals is Better

Qualcomm Inc. was right to turn down Broadcom Ltd.’s “final” purchase offer. It is bad for both companies. A better deal is a merger of equals that promises major tax benefits for shareholders, a lower debt burden and swift integration. A merger is what Broadcom and Qualcomm should be discussing rather than the likely fruitless…

Qualcomm Receives Revised Proposal from Broadcom

Qualcomm Incorporated (NASDAQ: QCOM) (“Qualcomm” or the “Company”) today confirmed that it has received a revised, non-binding, unsolicited proposal from Broadcom Limited (NASDAQ: AVGO) to acquire all outstanding shares of Qualcomm for $60.00 per share in cash and $22.00 per share in Broadcom stock. Consistent with its fiduciary duties, the Qualcomm Board of Directors, in consultation with its financial…

Qualcomm, Samsung Announce Expanded Partnership

Qualcomm Incorporated (NASDAQ: QCOM) today announced that its subsidiary, Qualcomm Technologies, Inc. (Qualcomm Technologies), and Samsung Electronics Co. Ltd. have announced a multi-year strategic relationship agreement between the two companies in various technology areas and across a range of mobile devices. This deal expands the companies’ longstanding relationship as technology and business partners this year…

EU Approves Qualcomm’s Acquisition of NXP

The European Commission has approved under the EU Merger Regulation the proposed acquisition of NXP, based in the Netherlands, by Qualcomm of the US. The approval is conditional on full compliance with commitments offered by Qualcomm. Both firms are important players in the semiconductor industry. Commissioner Margrethe Vestager, in charge of competition policy, said: “We use…

Gallagher Gauges Avnet’s Transformation

Phil Gallagher is optimistic about Avnet Inc. Following the announcement of the distributor’s fiscal Q2 earnings, the president of Avnet’s electronic components business assessed the company’s progress after a tumultuous 18 months. “We are making progress,” Gallagher said. “We are excited about where we are. We feel we are coming out the other side of a number…