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Bought Brocade and played by Qualcomm – Broadcom’s busy week

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Daniel Patel
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Just as the hangovers from the Brocade celebrations are subsiding, Qualcomm investors are presenting a different headache by holding out for a significant price increase.

Clearly thinking he was on a roll, CEO Hock Tan turned his attention to Qualcomm.

The potential acquisition was beaten back by the Qualcomm board, but according to Bloomberg sources, there might be a way for Tan to complete his shopping spree; just spend a bit more cash.

The initial bid was a considerable one; $130 billion at $70 per share.

Just to put things in perspective, the share price at the time of writing is $66.47, while the trading day before the initial bid from Broadcom, it was $61.

Tan is usually a man who gets his way, so the initial rejection could have put a dent in his ego, though Qualcomm investors seem to be tempted the beast out of the cage.

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Daniel Patel
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