Chipmakers Qualcomm and Broadcom are fighting to figure out the terms of a $160 billion acquisition

Steven Mollenkopf ceo qualcomm

Mike Blake/Reuters

Steven Mollenkopf, CEO of Qualcomm, attends the Wall Street Journal Digital conference in Laguna Beach, California, U.S. October 17, 2017.

Rival computer chip design and manufacturing companies Qualcomm and Broadcom are publicly hashing out the details of a merger deal that could reach a $160 billion (£114 billion) price tag.

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.