Broadcom CEO Hock Tan, days ahead of talks with Qualcomm for a $121 billion takover, insists he's a "frugal guy."

The rival chipmakers are scheduled to sit down Wednesday to negotiate Broadcom's latest buyout bid of $82 per share, even though Qualcomm on Thursday rejected the increased bid.

Broadcom has offered Qualcomm $8 billion in break-up fees, should the deal fail to gain regulatory approval.

"You know, I'm kind of a frugal guy. You think I would sign up to pay $8 billion if there's even a second thought?" Tan asked during an interview Monday on CNBC's "Squawk on the Street."

Broadcom has said its latest offer is its "best and final."