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Officials from chip giants Qualcomm and Broadcom reportedly plan to discuss the latter's acquisition bid for the first time this week.

Reuters, citing sources familiar with the matter, reports that the companies will meet Wednesday.

Qualcomm's board last week again rejected an offer from Broadcom as too low but indicated it was willing to meet with its Singapore-based rival "to see if it can address the serious deficiencies in value and certainty in its proposal."

Broadcom CEO Hock Tan responded in a statement, "We look forward to meeting with you promptly."

Broadcom, which intends to shift its headquarters to Delaware, originally offered more than $100 billion for Qualcomm in what would be the biggest tech merger in history. A revised offer of more than $120 billion, or $82 per share, would exceed the price tag at which prominent Qualcomm shareholders would reportedly consider backing the acquisition.

The company announced Monday that it secured up to $100 billion in financing for the deal from a dozen financial institutions.

Broadcom officials added that the company was prepared to pay an $8 billion termination fee if antitrust regulators negate a deal. A combined company would produce the chips used in many of the world's smartphones, and Qualcomm has also cited regulatory concerns in rejecting previous bids.

Broadcom nominated its own slate of candidates for Qualcomm's board at the San Diego company's shareholder meeting next month; Qualcomm executives have endorsed the incumbent members.

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