Qualcomm Board of Directors Unanimously Rejects Broadcom's Unsolicited Proposal

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Go back to Qualcomm Board of Directors Unanimously Rejects Broadcom's Unsolicited Proposal

Broadcom (AVGO) Gears Up for Hostile Fight as Qualcomm (QCOM) Rejects $103B Takeover Offer

November 13, 2017 1:05 PM EST

Earlier today, Qualcomm (NASDAQ: QCOM) announced that its board unanimously rejected Broadcom's (Nasdaq: AVGO) unsolicited $70 per share takeover proposal. However, Qualcomm is far from out of the woods. While Broadcom would prefer a friendly deal, it is indicating to the market that it might go hostile.

In a... More

UPDATE: Qualcomm (QCOM) PT Raised to $83 at Canaccord Genuity

November 13, 2017 11:47 AM EST

(Updated - November 13, 2017 1:19 PM EST)

(updated to expand analyst comment)

Canaccord Genuity raised its price target on Qualcomm (NASDAQ: QCOM) to $83.00 (from $76.00) while maintaining a Buy rating after the company rejected the offer from AVGO.

Analyst T. Michael Walkley cited... More