Broadcom pressures Qualcomm to negotiate after raising bid to $121 billion

Broadcom Ltd. offered Qualcomm Inc.’s shareholders a $16 billion-bigger payday, ratcheting up the pressure on its rival chipmaker to negotiate while deriding Qualcomm’s plan for independence as “pie in the sky.”
“Any rational board would engage with us,” Broadcom Chief Executive Officer Hock Tan said in an interview. “It’s an offer that provides more value to the shareholders of Qualcomm than any standalone value that Qualcomm has tried, or may thi