Broadcom's CEO Hock Tan published an open letter to Dr. Paul E. Jacobs, Executive Chairman of Qualcomm, seeking an urgent meeting to discuss Qualcomm's decision to reject the latest acquisition bid from Broadcom.
Mr. Tan reiterated that $82 per Qualcomm share is a "best and final offer" but said the agreement is highly favorable to Qualcomm and its stockholders and includes an $8 billion regulatory reverse termination fee and a 6% per annum regulatory ticking fee on the cash portion of the merger consideration (net of dividends).
