Hock Tan

Broadcom raises Qualcomm hostile bid to about US$121 bil

(Feb 5): Broadcom has raised its bid for Qualcomm Inc. to about US$121 billion ($160 billion), in an attempt to force what could be the largest-ever technology deal.

The new offer of US$82 a Qualcomm share will be Broadcom’s “best and final,” according to a statement Monday. The deal would take the form of US$60 in cash and the remainder in Broadcom shares. That would represent a 50% premium over the price Qualcomm was trading at on Nov 2, before news of the approach broke, Broadcom said.

Broadcom swings back to the black in 4Q with higher than expected US$636 mil earnings

SINGAPORE (Dec 7): Broadcom reversed back into profitability in 4Q ended Oct as the chipmaker makes a US$105 billion ($142 billion) bid for Qualcomm Inc.

In the latest quarter, Broadcom swung to higher than expected earnings of US$636 million, or US$1.50 a share, compared with a loss of US$632 million, or US$1.59 per share, a year earlier. On an adjusted basis, earnings grew to US$4.59 per share from US$3.47 a year ago.

Revenue jumped 8.5% to $4.84 billion. Analysts had projected adjusted earnings of US$4.52 a share on $4.83 billion in revenue.

Broadcom presses on in takeover bid; proposes to replace Qualcomm's board of directors

SINGAPORE (Dec 5): Broadcom is now proposing to unseat the board of directors at rival company Qualcomm, after facing multiple rejections in its quest to take over the latter.

The Nasdaq-listed chipmaker on Monday announced its intention to nominate a slate of 11 “independent, highly-qualified individuals” to be elected on Qualcomm’s board of directors prior to the latter’s 2018 Annual Meeting to be held on March 6.

Singapore's entrepreneurial scene looks less boring with spate of megadeals

SINGAPORE (Nov 30): Back in 2002, as the city-state was emerging from its worst recession since 1964, the government was getting impatient over the economy's disproportionate reliance on multinationals and a handful of globally competitive state-backed firms like Singapore Airlines.

A panel on "entrepreneurship and internationalisation" noted that only 5% of Singaporeans ran their own companies, versus 12% in the US. Then-finance minister and future Prime Minister Lee Hsien Loong vowed to end red tape and allow new structures like limited partnerships.

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