Broadcom has stated that this is the final bid in its log running attempt to buy Qualcomm

International telecoms conglomerate Broadcom has increased its offer to purchase Qualcomm to a reported $121 billion. Under the new proposal, Qualcomm’s shareholders would receive $60 in cash and $22 in Broadcom stock for every share they own. This represents a sizable increase from Broadcom’s previous offer of $60 cash plus $10 stock per share.

"Consistent with its fiduciary duties, the Qualcomm Board of Directors, in consultation with its financial and legal advisors, will review the revised proposal to determine the course of action it believes is in the best interests of the Company and its stockholders.  Qualcomm will have no further comment on the proposal until its board of directors has completed its review," read a statement from Qualcomm’s board.

Qualcomm has vigorously resisted previous offers, claiming that they significantly undervalued the company. It remains to be seen whether Broadcom has done enough to meet Qualcomm’s board of directors’ valuation of the company. Broadcom has described its latest bid as its "best and final" offer. Broadcom has also stated that the improved price is contingent upon Qualcomm completing its proposed acquisition of NXP Semiconductors at the agreed price of $110 per share.

Broadcom’s acquisition of Qualcomm would be subject to rigorous regulatory approval and would be one of the biggest tech acquisitions in history.