Ina Fried Feb 20
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Broadcom re-evaluating bid after Qualcomm ups NXP offer

Paul Jacobs Qualcomm
Paul Jacobs speaks during a keynote address. Photo: David Becker / Getty Images

Qualcomm raised its offer for Dutch chipmaker NXP Semiconductors on Tuesday, possibly making that deal more likely to happen and a hostile takeover from Broadcom less likely.

The bottom line: This is the highest-stakes poker game in town and Qualcomm just significantly increased the pot.

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."
— Broadcom

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."
— Qualcomm chairman Paul Jacobs
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Zuckerberg admits Facebook "breach of trust"

Facebook CEO Mark Zuckerberg walks wearing a t-shirt, with trees behind him
Photo: Drew Angerer/Getty Images

Mark Zuckerberg weighed in on what he called the "Cambridge Analytica situation" today in a Facebook post, saying there was a "a breach of trust between Facebook and the people who share their data with us and expect us to protect it. We need to fix that."

Why it matters: Facebook has been under extraordinary pressure from lawmakers, regulators and Wall Street to respond to the issue.

Kia Kokalitcheva 42 mins ago
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Uber rescinds job offer to ex-Amazon exec

Uber has rescinded an offer to ex-Amazon voice-shopping VP Assaf Ronen to become its product chief after it learned that he had left the commerce giant earlier than he had told the company, according to Recode.

Context: About a year ago, Uber asked former Google exec Amit Singhal to resign after it found out that he left the search giant after being accused of sexual harassment. So it's not surprising to see new-CEO Dara Khosrowshahi having no tolerance for candidates who aren't truthful.