Qualcomm, Moving to Fend Off Broadcom, Raises Bid for NXP to $44 Billion<br />“The board unanimously believes this is an attractive acquisition at this price for Qualcomm stockholders.”<br />The revised bid was enough to win over investors controlling roughly 28 percent of NXP’s shares, including<br />Elliott Management, the activist hedge fund that had opposed Qualcomm’s initial offer as too low.<br />Under the new terms, Qualcomm would pay $127.50 for each NXP share, 16 percent more than originally proposed,<br />and the threshold for how many NXP shareholders must agree to tender their shares would be lowered to 70 percent from 80 percent.<br />Qualcomm on Tuesday increased its takeover bid for rival chip maker NXP Semiconductors to about $44 billion in hopes of shoring up support for the deal,<br />and to potentially fend off its own unwanted suitor, Broadcom.<br />Broadcom’s chief executive, Hock Tan, has said that his company would abandon the takeover if Qualcomm’s offer for NXP rose above $110 a share
