The New York Post reports Broadcom (NASDAQ:AVGO) CEO Hock Tan could interfere with Qualcomm’s (NASDAQ:QCOM) acquisition of NXP Semiconductors (NASDAQ:NXPI).
Sources say Tan told Qualcomm shareholders that Broadcom would increase its buyout offer if Qualcomm drops the NXP effort.
Broadcom offered $70 per share for Qualcomm, which was rejected, and sources say the company could go up to $77 if the NXP acquisition drops. Qualcomm insiders have signaled wanting at least $80.
Qualcomm offered $110 per share for NXP last December. Regulatory delays have given activist investors time to push for more money.
Without the NXP acquisition, Qualcomm stands in a more vulnerable position for a takeover.