Broadcom cuts Qualcomm bid by $3 per share

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(Reuters) – Broadcom Corp (AVGO.O) has lowered its takeover offer for chipmaker Qualcomm Inc (QCOM.O) to $79 per share from $82 to account for the latter’s increased offer for NXP Semiconductors NV (NXPI.O), Broadcom said on Wednesday. The new offer consists of $57 per share in cash and $22 per share in Broadcom shares, premised on Qualcomm’s revised agreement on Tuesday to buy NXP at $127.50 per share. The older offer comprised of $60 per share in cash and $22 per share in stock. Reporting by Supantha Mukherjee in Bengaluru; editing by Patrick GrahamOur Standards:The Thomson Reuters Trust Principles.
Source: Reuters