Broadcom re-evaluating bid after Qualcomm ups NXP offer

In the wake of Qualcomm's sweetened NXP bid, Broadcom said it is "evaluating its options."

"By raising its offer for NXP from $110 per NXP share to $127.50 per NXP share, Qualcomm’s board of directors and management have transferred $4.10 per Qualcomm share from Qualcomm stockholders to NXP stockholders, representing approximately $6.2 billion of value. This revised price for NXP is well beyond what Qualcomm has repeatedly characterized as a “full and fair” price."

Qualcomm's take: Qualcomm said it has convinced shareholders controlling 28% of NXP stock to tender their shares at the revised price.

"NXP is a highly strategic and attractive acquisition for Qualcomm that enhances the value of our leading 5G technologies.  We also believe the revised agreement provides certainty for both Qualcomm and NXP stockholders."