Broadcom appears to be getting ready to raise its bid for rival chipmaker Qualcomm according to a number of media reports, all of which cite "people" familiar with the matter.
The Financial Times reported that Singapore-based Broadcom was to raise its offer to $80 a share, up from its initial offer of $70, valuing the company at about $145bn including debt.
Bloomberg, meanwhile, said Broadcom was considering lifting its bid to around $80-$82 per Qualcomm share, while Reuters' "exclusive" also suggested an $80-$82-a-share offer valuing Qualcomm at $120bn.
San Diego-based Qualcomm dismissed Broadcom's earlier offer as "opportunistic" and "inferior" in a letter to shareholders last month. It added that such a marriage would face significant regulatory uncertainty.
All reports said that an announcement was likely later on Monday, during the US morning hours.
Ahead of announcement, traders backed the likelihood of a raised offer sending Qualcomm shares more than 11% higher to $66.07 in pre-market trade.
Shares in Broadcom, which are listed in the US, were down 0.37% in pre-market trade at $235.48.