February 21, 2018 / 1:30 PM / 3 months ago

Broadcom cuts Qualcomm bid by $3 per share

Feb 21 (Reuters) - Broadcom Corp has lowered its takeover offer for chipmaker Qualcomm Inc to $79 per share from $82 to account for the latter’s increased offer for NXP Semiconductors NV, 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 Graham)

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