Chipmakers Qualcomm and Broadcom are fighting to figure out the terms of a $160 billion acquisition
The prospective deal came about in November when Broadcom made an offer to buy its rival Qualcomm.
Qualcomm executives initially resisted the deal, but The Financial Times now reports that the company is open to being acquired - but only for a price tag of $160 billion.That hasn't gone down well at Broadcom, which called Qualcomm's request for negotiations "engagement theater." The company said in a statement that "Broadcom does not believe that the process outlined by Qualcomm today is designed to lead to a prompt agreement."
So the two companies are at somewhat of a stalemate: Qualcomm says it's open to being bought, but for a higher price. And Broadcom still wants to buy Qualcomm, but at a lower price.