Monday, November 13, 2017

Qualcomm Rejects Broadcom Proposal

Qualcomm announced this morning that its board has unanimously rejected the unsolicited acquisition proposal from San Jose-based Broadcom, saying the offer "dramatically undervalues" the company. Broadcom offered to pay $130 billion for Qualcomm on November 6th. Qualcomm said it conducted the review in consultation with financial and legal advisors, also saying that the offer had "significant regulatory uncertainty". Broadcom said on November 6th that it would pay $70.00 in cash and stock for Qualcomm.