Don't worry about cash reserves. Including their offshore money, they have approx. $20 bil, and generate billions in free cash flow annually. The reason why I am skeptical that QCOM will be the acquirer, and always have been, is that Qualcomm's business model is "license one, get them all". The only strategic reason that's plausible to me is purely defensive, and to maximize leverage at renewal time with licensees. I just don't think that's enough to justify entering a frothy bidding war, but we'll have to wait and see.
As an IDCC shareholder, I don't care who the buyer is, as long as they overpay.