Qualcomm Drops ‘Hell or High Water’ Demand in Broadcom Bid (Corrected)

Qualcomm Inc. said Feb. 26 that it’s willing to accept an acquisition offer from Broadcom Ltd. without a “hell or high water” clause that would bind the potential buyer to the deal no matter what regulatory issues arise.

Qualcomm previously requested the clause, which would have required the buyer to do whatever it takes to get a transaction approved, said Scott Sher, an antitrust partner at Wilson Sonsini Goodrich & Rosati. In the event that the deal doesn’t go through, the buyer would still be required to pay the full purchase price, he told Bloomberg Law.

Sher is advising ...