Qualcomm Rising: Rejects Broadcom Bid for 'Significantly Undervaluing'

Qualcomm Rising: Rejects Broadcom Bid for 'Significantly Undervaluing'

The preparations for the board meeting indicate that Qualcomm is poised to rebuff the bid as insufficient as early as Monday, although it may decide to spend a few more days this week to prepare its full response to Broadcom, the sources added.

In addition, according to Presiding Director of Qualcomm Tom Horton, there was also "significant regulatory uncertainty" which put Qualcomm on edge - which could have led to outright regulatory rejection, complicated discussions, and a long road to meet legal requirements and maintain value.

Qualcomm Inc. rejected Broadcom Ltd.'s $105 billion acquisition offer, kicking off what would be the largest technology takeover battle in history. Apparently, it is considering raising its bid, but also wants to submit its own selection of directors for Qualcomm's board.

The sources asked not to be identified because the deliberations are confidential. According to Reuters, it is now trying to acquire NXP Semiconductors NV, an automotive chipmaker.

Huge Neymar Real Madrid claim emerges from Marca
He continued: 'I just want to be happy, I did not come here to make trouble with anybody. I'm happy, I was happy when I left Barcelona and I'm happy now".

Qualcomm provides chips to carrier networks to deliver broadband and mobile data.

Tan brought up combining the two companies with Qualcomm in August 2016, when Qualcomm's shares traded at significantly higher prices.

Broadcom has indicated it is willing to buy Qualcomm irrespective of whether it closes the NXP deal.

Meanwhile, Broadcom's shares have surged almost 50 percent in the past 12 months as it completed the Broadcom/Avago Technologies acquisition, paid down debt and increased revenue and profitability.

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