Broadcom raises Qualcomm bid to more than $121 billion

SAN JOSE, Calif. — Broadcom boosted its bid for Qualcomm to more than $121 billion in cash and stock Monday in what would be the largest tech deal in history.

Broadcom Ltd. said that its "best and final offer" of $82 per Qualcomm share includes $60 in cash and the rest in Broadcom shares.

Qualcomm, which makes the omnipresent Snapdragon chips used in smartphones and tablets, said Monday that it has received the revised bid and that its board, along with financial and legal advisers, will review the offer.

Qualcomm Inc. previously said that a $103 billion unsolicited acquisition offer undervalued the San Diego company. It criticized the people that Broadcom and Silver Lake Partners had wanted to put on its board, saying that they were conflicted and had no skills or expertise to offer.

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