After unnamed people familiar with the matter have been quoted as saying Broadcom Corp. is weighing the possibility to sweeten the declined bid worth $130 billion to buy Qualcomm Inc.'s, the New York Post wrote it learned the head of the Singapore-incorporated company is now "looking to scuttle" the target entity's agreement to purchase rival NXP Semiconductors NV. The acquisition has been agreed one year ago.
Subsidiary Qualcomm River Holdings BV has tendered just 2.4% of outstanding shares in the Dutch chipmaker as of November 17, after the rejection. The initial transaction, set at $47 billion in cash, is expiring next month, and the news outlet's sources say the sum would need to be raised.
The latest report indicates Broadcom's chief executive Hock Tan has been telling shareholders of the chipmaker headquartered in San Diego that he would improve the offer if it drops out of the purchase of NXP. The article added the talks are conducted without the participation of Qualcomm's board as it is refusing to meet.
