Qualcomm, Broadcom hold talks over revised US$121b bid

New York

QUALCOMM INC said on Wednesday that it met with Broadcom Ltd earlier in the day to discuss the latter's revised US$121 billion bid, the first time the chipmakers have discussed what would be the technology sector's largest ever acquisition.

The outcome of the meeting will determine whether Qualcomm, which has resisted Broadcom's takeover approach since November, will engage in negotiations or continue to defend itself by rallying its shareholders, who are scheduled to vote on March 6 on replacing the majority of its board with Broadcom nominees.