Broadcom said to be delaying higher Qualcomm bid to next year

New York

BROADCOM Ltd isn't planning to increase its US$105 billion offer for Qualcomm Inc ahead of a proposal next week to replace directors on its board, according to people familiar with the matter.

Broadcom doesn't anticipate increasing its US$70-a-share offer until closer to Qualcomm's board meeting in March, said the people, who asked not to be identified because the matter is private. Broadcom plans to nominate directors to Qualcomm's board ahead of a Dec 8 deadline, the people said.