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Broadcom Ltd (AVGO.OQ)

AVGO.OQ on NASDAQ Stock Exchange Global Select Market

249.35USD
22 Feb 2018
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Latest Key Developments (Source: Significant Developments)

Qualcomm Says Open To Discussions With Broadcom For Proposal That Reflects "True Value" Of Co's Shares
Friday, 16 Feb 2018 08:02am EST 

Feb 16 (Reuters) - Qualcomm Inc ::QUALCOMM PROVIDES UPDATE ON MEETING WITH BROADCOM.QUALCOMM INC - BOARD FOUND MEETING WITH BROADCOM "TO BE CONSTRUCTIVE".QUALCOMM INC - ‍BOARD REMAINS UNANIMOUSLY OF VIEW THAT BROADCOM'S PROPOSAL MATERIALLY "UNDERVALUES" QUALCOMM​.QUALCOMM - BROADCOM EXPRESSED WILLINGNESS TO AGREE TO SOME POTENTIAL ANTITRUST-RELATED DIVESTITURES BEYOND THOSE IN PREVIOUSLY FILED AGREEMENT.QUALCOMM -BROADCOM CONTINUED TO RESIST AGREEING TO OTHER COMMITMENTS EXPECTED TO BE REQUIRED BY FTC, EUROPEAN COMMISSION, MOFCOM, OTHER REGULATORY BODIES.QUALCOMM - BROADCOM ALSO DECLINED TO RESPOND TO QUESTIONS ABOUT INTENTIONS FOR FUTURE OF QUALCOMM'S LICENSING BUSINESS.QUALCOMM - BROADCOM INSISTS ON CONTROLLING MATERIAL DECISIONS ON CO'S LICENSING BUSINESS DURING EXTENDED PERIOD BETWEEN SIGNING & POTENTIAL DEAL CLOSE.QUALCOMM - BOARD IS INTENSELY FOCUSED ON MAXIMIZING VALUE FOR QUALCOMM STOCKHOLDERS, WHETHER THROUGH EXECUTING ON GROWTH STRATEGY OR BY SELLING CO.QUALCOMM - IN FEB. 14 MEETING, BROADCOM REITERATED THAT $82.00 PER SHARE IS "ITS BEST AND FINAL PROPOSAL".QUALCOMM INC - ‍BOARD REMAINS UNANIMOUSLY OF VIEW THAT BROADCOM'S PROPOSAL HAS AN "UNACCEPTABLY" HIGH LEVEL OF RISK​.QUALCOMM INC - BOARD OPEN TO DISCUSSIONS WITH BROADCOM TO SEE IF PROPOSAL THAT APPROPRIATELY REFLECTS "TRUE VALUE" OF CO'S SHARES CAN BE OBTAINED.  Full Article

Broadcom Enters $6 Bln Note Purchase Agreement With KKR, Silver Lake, CVC
Thursday, 15 Feb 2018 06:13pm EST 

Feb 15 (Reuters) - Broadcom Ltd ::BROADCOM- $6 BILLION NOTE PURCHASE AGREEMENT WITH KKR, SILVER LAKE, CVC, PROVIDES NOTES TO BEAR INTEREST AT 3.00% PER ANNUM, PAYABLE SEMIANNUALLY IN CASH​.  Full Article

Broadcom CEO Says Will Walk If Co's Board Does Not Have Control Over Qualcomm Board - CNBC ‍​
Monday, 12 Feb 2018 09:29am EST 

Feb 12 (Reuters) - :BROADCOM CEO HOCK TAN SAYS CO WILL WALK IF BOARD DOES NOT HAVE CONTROL OVER QUALCOMM BOARD - CNBC ‍​.  Full Article

Broadcom Signs Committed Financing Agreements To Fund Qualcomm Deal
Monday, 12 Feb 2018 07:00am EST 

Feb 12 (Reuters) - Broadcom Ltd ::BROADCOM AND FINANCING SOURCES SIGN BINDING FINANCING COMMITMENTS TO FUND CASH COMPONENT OF QUALCOMM ACQUISITION.BROADCOM LTD - SILVER LAKE JOINED BY KKR AND CVC IN $6 BILLION CONVERTIBLE NOTES FINANCING TO FUND QUALCOMM TRANSACTION.BROADCOM LTD - SIGNED COMMITTED FINANCING AGREEMENTS TO FUND ITS PROPOSED ACQUISITION OF QUALCOMM INC.BROADCOM LTD - ‍A GROUP OF 12 FINANCIAL INSTITUTIONS HAVE AGREED TO PROVIDE UP TO $100 BILLION OF COMMITTED CREDIT FACILITIES​.BROADCOM LTD - THE $100 BILLION COMMITTED CREDIT FACILITIES INCLUDE A $5 BILLION REVOLVING CREDIT FACILITY AND BRIDGE FINANCING.BROADCOM -‍AS RESULT FINANCING,HAS SUFFICIENT COMMITTED FINANCING TO FUND $60/SHARE CASH COMPONENT OF $82/SHARE OFFER TO ACQUIRE ALL SHARES OF QUALCOMM​.BROADCOM- INVESTMENT FUNDS AFFILIATED WITH SILVER LAKE, KKR, CVC TO GIVE $6 BILLION CONVERTIBLE NOTE FINANCING TO FUND DEAL, POST-CLOSING WORKING CAPITAL NEEDS.  Full Article

Qualcomm Board Of Directors Unanimously Rejects Revised Broadcom Proposal
Thursday, 8 Feb 2018 04:04pm EST 

Feb 8 (Reuters) - Qualcomm Inc ::QUALCOMM BOARD OF DIRECTORS UNANIMOUSLY REJECTS REVISED BROADCOM PROPOSAL.QUALCOMM BOARD OF DIRECTORS UNANIMOUSLY REJECTS REVISED BROADCOM PROPOSAL.QUALCOMM INC - QUALCOMM OFFERS TO MEET TO SEE IF BROADCOM CAN ADDRESS SERIOUS DEFICIENCIES IN VALUE AND CERTAINTY.QUALCOMM INC - ‍QUALCOMM BOARD, ASSISTED BY ITS FINANCIAL AND LEGAL ADVISORS, DETERMINED THAT BROADCOM PROPOSAL MATERIALLY "UNDERVALUES" QUALCOMM​.QUALCOMM INC - ‍BROADCOM PROPOSAL FALLS "WELL SHORT OF FIRM REGULATORY COMMITMENT" BOARD WOULD DEMAND GIVEN SIGNIFICANT DOWNSIDE RISK OF A FAILED DEAL​.  Full Article

Broadcom prepared to pay break fee up to $10 bln- CNBC
Monday, 5 Feb 2018 09:33am EST 

Feb 5 (Reuters) - :BROADCOM PREPARED TO PAY BREAK FEE UP TO $10 BILLION - CNBC, CITING SOURCES‍​.  Full Article

Qualcomm Confirms Receipt Of Revised Proposal From Broadcom
Monday, 5 Feb 2018 07:59am EST 

Feb 5 (Reuters) - Qualcomm Inc ::QUALCOMM CONFIRMS RECEIPT OF REVISED PROPOSAL FROM BROADCOM.QUALCOMM - CONFIRMED IT HAS RECEIVED REVISED, PROPOSAL FROM BROADCOM TO BUY CO FOR $60 PER SHARE IN CASH AND $22 PER SHARE IN BROADCOM STOCK.  Full Article

Broadcom Narrows Q1 Revenue Guidance Range
Wednesday, 31 Jan 2018 08:00am EST 

Jan 31 (Reuters) - Broadcom Ltd ::BROADCOM LIMITED NARROWS FIRST QUARTER FISCAL YEAR 2018 REVENUE GUIDANCE RANGE.SEES Q1 2018 NON-GAAP EARNINGS PER SHARE ABOUT $5.10.SEES Q1 2018 REVENUE $5.3 BILLION TO $5.35 BILLION.FOR Q2 OF FISCAL YEAR 2018, CO EXPECTS NON-GAAP NET REVENUE IN RANGE OF $5,000 MILLION, PLUS OR MINUS $75 MILLION.SEES ‍Q2 2018 NON-GAAP NET REVENUE IN RANGE OF $5,000 MILLION, PLUS OR MINUS $75 MILLION​.WE CURRENTLY FORECAST ON A NORMALIZED 13-WEEK QUARTER BASIS, THAT Q2 REVENUE WILL BE ROUGHLY FLAT TO PREVIOUS QUARTER.Q1 EARNINGS PER SHARE VIEW $4.95, REVENUE VIEW $5.30 BILLION -- THOMSON REUTERS I/B/E/S.Q2 REVENUE VIEW $4.93 BILLION -- THOMSON REUTERS I/B/E/S.BROADCOM - IN Q2, STRONG DATA CENTER DEMAND FOR WIRED AND ENTERPRISE STORAGE PRODUCTS EXPECTED TO OFFSET A GREATER THAN SEASONAL DECLINE IN WIRELESS.Q1 RESULTS ARE TRACKING TOWARDS HIGHER END OF EXPECTATIONS.  Full Article

Broadcom Comments On Qualcomm's Statements
Tuesday, 23 Jan 2018 01:26pm EST 

Jan 23 (Reuters) - Broadcom Ltd ::BROADCOM COMMENTS ON QUALCOMM'S STATEMENTS.BROADCOM SAYS "THERE IS NO ANTITRUST ISSUE" CONCERNING QUALCOMM TRANSACTION THAT COULD NOT BE SATISFACTORILY RESOLVED DURING MERGER CLEARANCE PROCESS.  Full Article

Broadcom Says FTC Review Immaterial To Business, No Impact On Qualcomm Proposal
Wednesday, 17 Jan 2018 03:35pm EST 

Jan 17 (Reuters) - Broadcom Ltd ::BROADCOM LTD SAYS "FTC REVIEW IS IMMATERIAL TO OUR BUSINESS, DOES NOT RELATE TO WIRELESS AND HAS NO IMPACT ON OUR PROPOSAL TO ACQUIRE QUALCOMM".  Full Article

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Breakingviews - Viewsroom: Chipmaker battle fries M&A circuits

NEW YORK (Reuters Breakingviews) - Broadcom has lowered its hostile bid for Qualcomm after its target upped its longstanding offer for NXP. That decreases the chance the two larger rivals can strike a deal – assuming regulators wouldn’t nuke it. Plus: Credit Suisse shines a rare light on Asian investment banking.