29 Nov '17, 6pm

Qualcomm Rebuffs Broadcom’s $105 Billion Bid for Being Too Low https://t.co/wVay17J2lZ

Qualcomm Rebuffs Broadcom’s $105 Billion Bid for Being Too Low https://t.co/wVay17J2lZ

Qualcomm’s board formally rejected Broadcom’s $105 billion takeover bid Monday, arguing that it “significantly undervalues” its business. The deal was already a long shot, facing an obstacle course of antitrust regulators . The company said that its board voted unanimously to reject the $70 per share bid, which would have created a dominant chip supplier for cars, smartphones, and basically any product connected to the internet. In a recent statement , Broadcom downplayed the potential threat of antitrust regulators, which have financially and legally battered Qualcomm for months. Last week, Bloomberg reported that Broadcom would resort to a hostile takeover if Qualcomm turned down the deal, which faced lots of skepticism throughout the semiconductor industry. That would mean offering to buy stock from shareholders directly, circumventing management. The $105 billion bid p...

Full article: http://www.mwrf.com/semiconductors/qualcomm-rebuffs-broad...

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