Qualcomm ups NXP bid to $44B in response to Broadcom

The semiconductor business is getting into a new phase of takeovers. While Qualcomm was ready to purchase NXP for $47 billion ($37 billion value + $10 billion existing debt), it was surprised with a bid from Broadcom that reached $121 billion. In a bold move, the San Diego company decided to boost its offer for NXP from $110 per share to $127.50 per share, or a total of $44 billion value. Qualcomm's presiding board director Tom Horton said the acquisition "enables Qualcomm to accelerate its growth strategy". The deal already has support from major shareholders at the Dutch...