Broadcom Cuts Offer For Qualcomm

On Wednesday, Microchipmaker Broadcom Ltd cut its bid for Qualcomm Inc by 4 percent to $117 billion. This as it objected to Qualcomm’s decision to raise its own bid for NXP Semiconductors.
The move appeared to lower the chances of a negotiated deal between Broadcom and Qualcomm. It sets up a showdown on March 6. That's when Qualcomm shareholders will elect an 11-member board and decide whether to hand control to a slate of six nominees put forward by Broadcom.