Broadcom (AVGO) Gears Up for Hostile Fight as Qualcomm (QCOM) Rejects $103B Takeover Offer
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November 13, 2017 11:00 AM EST
SAN JOSE, Calif., Nov. 13, 2017 /PRNewswire/ -- Broadcom Limited (NASDAQ: AVGO) ("Broadcom"), a leading semiconductor device supplier to the wired, wireless, enterprise storage, and industrial end markets, today announced that it remains fully committed to pursuing its acquisition of Qualcomm Incorporated (NASDAQ: QCOM) ("Qualcomm"). Broadcom's offer of $70.00 per share, which consists of $60.00 in cash and $10.00 per share in Broadcom shares, represents a 28% premium over the closing price of Qualcomm's common stock on November 2, 2017, the last unaffected trading day prior to media speculation regarding a potential transaction, and a... More
November 13, 2017 8:50 AM EST
SAN DIEGO, Nov. 13, 2017 /PRNewswire/ --Â Qualcomm Incorporated (NASDAQ: QCOM) ("Qualcomm" or the "Company") today announced that its Board of Directors unanimously rejected the unsolicited proposal announced by Broadcom Limited ("Broadcom") on November 6, 2017.
"It is the Board's unanimous belief that Broadcom's proposal significantly undervalues Qualcomm relative to the Company's leadership position in mobile technology and our future growth prospects," said Paul Jacobs, Executive Chairman and Chairman of the Board of Qualcomm Incorporated.Â
"No company is better positioned in mobile, IoT, automotive, edge computing and networking within the semiconductor... More
