Qualcomm, moving to fend off Broadcom, raises bid for NXP to $44 Billion

Qualcomm on Tuesday increased its takeover bid for rival chip maker NXP Semiconductors to about $44 billion in hopes of shoring up support for the deal, and to potentially fend off its own unwanted suitor, Broadcom.

Under the new terms, Qualcomm would pay $127.50 for each NXP share, 16 percent more than originally proposed, and the threshold for how many NXP shareholders must agree to tender their shares would be lowered to 70 per cent from 80 percent.

In statements, Qualcomm officials said NXP technology would bolster their company’s products for the next-generation 5G wireless standard.

“The acquisition of NXP will enable us