Qualcomm, Broadcom plan to meet on February 14

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Initially, Broadcom offered a $130 billion buyout, and then upped the ante to $145 billion last week.

There were no details about the substance of the talks. The Qualcomm Board will promptly meet to discuss the meeting and to determine next steps. The prospects for a deal which would significantly reshape the mobile chip industry have looked poor so far, with the two companies engaging in wars of words and aggressive moves to persuade Qualcomm shareholders of their case.

LG said it will soon offer new artificial intelligence capabilities to its V30 smartphone.

Qualcomm has raised concerns about potential damage to its business during a lengthy review by global competition regulators of the massive deal - which would be the largest ever in tech.

But Qualcomm did agree to meet with Broadcom for the first time to discuss the offer.

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Singapore- and San Jose-based Broadcom is waging a proxy battle for control of the San Diego wireless pioneer, offering $82 per share for a stock that closed Wednesday at $66.59. The combined company would have a leading market position in many valuable components in smartphones.

Qualcomm will likely attempt to close its acquisition of NXP as soon as it can to forestall a takeover attempt by Broadcom.

Qualcomm chairman Paul Jacobs and chief executive Steve Mollenkopf were among the executives of the California-based firm at Wednesday's meeting, according to the statement.

Qualcomm and Broadcom did not immediately respond to requests for comment.

Broadcom cut the number of board seats it was trying to win at Qualcomm to six from 11 on Tuesday, saying this would let Qualcomm shareholders push the U.S. chipmaker toward a sale while ensuring continuity. On Tuesday, Broadcom said it would walk away from its efforts if Qualcomm continues to reject the proposal, or if its six director nominees aren't elected at Qualcomm's annual meeting in March. The release issued by Broadcom also stated that the investment funds associated with Silver Lake, KKR, and CVC too have agreed to extend $6 billion of convertible note financing.

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