Qualcomm proposes due diligence, price talks with Broadcom

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(Reuters) – Qualcomm Inc (QCOM.O) urged peer Broadcom Ltd (AVGO.O) to enter into direct negotiations on a price for merging the two companies and said they had made progress on regulatory and other deal certainty issues at a meeting last week.

Qualcomm maintained that all of Broadcom’s previous offers materially undervalued the company.

“The Board encourages Broadcom to enter into mutual due diligence and price negotiations,” Qualcomm said.

Reporting by Sonam Rai in Bengaluru; Editing by Saumyadeb Chakrabarty



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