Qualcomm and Broadcom plan to meet on 14 February to discuss Broadcom’s $121-billion offer to acquire Qualcomm, Reuters reported.
The report stated this will be the first time the two companies will meet to discuss a potential deal.
This comes after Qualcomm’s board rejected Broadcom’s offer to acquire the company for $82 per share.
Broadcom previously offered $70 per share, which consisted of $60 per share in cash and $10 per share in stock.
“The Broadcom proposal materially undervalues Qualcomm and falls well short of the firm regulatory commitment the board would demand given the significant downside risk of a failed transaction,” said Qualcomm.
As part of its takeover bid, Broadcom launched a campaign with Qualcomm shareholders to replace the Qualcomm board. The vote is scheduled for 6 March.