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Broadcom Eyes New Acquisition Targets
Dylan McGrath, EETimes
3/16/2018 00:01 AM EDT
SAN FRANCISCO — Broadcom executives said the company is eyeing fresh potential targets for acquisition, just days after U.S. President Donald Trump quashed the company's proposed $117 billion hostile takeover attempt of rival Qualcomm.
"We do see potential [acquisition] targets that are consistent with our proven business model and that also can drive returns well in excess of what we would otherwise achieve buying our own stock and/or paying down debt," said Tom Krause, Broadcom's chief financial officer, in a conference call with analysts to discuss the company's fiscal first quarter financial results.
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