(Adds details on offer, Broadcom's comment on NXP deal)
Feb 5 (Reuters) - Chipmaker Broadcom Ltd on Monday raised its offer to buy Qualcomm Inc by 24 percent to more than $121 billion, sweetening the bid and putting more pressure on its rival to come to the table for negotiations.
The new offer values the company at $82 per share - a premium of 24 percent from Qualcomm's close on Friday.
Broadcom's offer also puts pressure on Qualcomm to either buy NXP Semiconductors NV at $110 per share or terminate the $38 billion deal.
NXP shareholders had held up a deal, saying it undervalued the company and had sought a price as high as $135.
Qualcomm in November rejected Broadcom's $70 per share cash-and-stock bid that valued the company at $103 billion.
In the new offer, Qualcomm shareholders would get $60 in cash and the $22 in Broadcom shares. Broadcom's previous $70 per share offer consisted of $60 per share in cash and $10 per share in stock.
Qualcomm had said Broadcom's offer significantly undervalued the company and any deal would face regulatory challenges in several countries.
Broadcom said it remained confident that the deal would be completed within 12 months following a definitive agreement. (Reporting by Supantha Mukherjee in Bengaluru; Editing by Bernard Orr)