Broadcom to Raise Offer for Qualcomm to About $120 Billion on Monday

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Broadcom Ltd. plans Monday to raise its offer for Qualcomm Inc. to around $120 billion, a person familiar with the matter said, a move aimed at increasing pressure on the takeover target in what would be the largest-ever technology deal.

Broadcom is expected to announce a new offer around 7 a.m. ET. It will be “in the ballpark” of $120 billion, though the terms aren’t final yet, the person said.

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