Qualcomm says no thanks to Broadcom's 105 billion acquisition offer

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Broadcom's Historic Bid For Qualcomm Rejected As Too Low OOYUZ

- ooyuz.com
13 Nov 2017
Qualcomm rejected Broadcom's unsolicited bid to acquire its operations for $130 billion including $25 billion in debt, the San Diego, California-based company said Monday. In a prepared statement, the semiconductor giant revealed that the decision to dismiss the offer was made by its Board of Directors in a unanimous manner, stating that the offer "significantly ...

Qualcomm has rejected Broadcom's 130 billion 'unsolicited proposal

13 Nov 2017
With that amount of money, one has to imagine that Qualcomm at least considered the offer. But as it turns out, not even $130 billion is enough to nudge Qualcomm into an acquisition. According to the company's official statement released today, Qualcomm's board of directors "unanimously rejects" the "unsolicited proposal" put on the table by Broadcom.
- androidandme.com

Qualcomm plans to snub Broadcom's 103 billion offer

- mysmartprice.com
13 Nov 2017
According to news sources and insiders, Qualcomm might be planning to reject the initial offer of $103 billion, that was made by Broadcom. According to sources, Qualcomm's Chief Executive Steven Mollenkopf has been in talks with shareholders to discuss the offer and the general feeling is that the offer can be upped. If the deal goes ahead, and it still could, it will be ...

Qualcomm rejects Broadcom

13 Nov 2017
Tan, who has built Broadcom through a series of transactions that have helped reshape the $300 billion semiconductor industry, has previously been able to pull off deals with friendly approaches. Acquiring Qualcomm is further complicated by his target's own push to close a more than $40 billion purchase of NXP Semiconductors NV. That purchase is being held up by regulatory ...
- mybroadband.co.za

Qualcomm rejects Broadcom takeover bid DW

- dw.com
13 Nov 2017
After Broadcom announced last week it would seek to buy its competitor for $103 billion (EUR88.3 billion) , Qualcomm said Monday that the offer was significantly undervalued and that a tie-up between the two chipmakers would face substantial regulatory resistance.

Qualcomm rejects Broadcom's 100 billion

13 Nov 2017
Last Monday, Broadcomm, a leading chip supplier to the wired, wireless, enterprise storage, and industrial end markets announced an unsolicited offer to buy Qualcomm. The proposed transaction was valued at approximately $130 billion. Under Broadcom's proposal, Qualcomm stockholders would receive per share and it will consist of $60.00 in cash and $10.00 per share in ...
- mspoweruser.com

Qualcomm unanimously rejects Broadcom's bid for 130 billion

- phandroid.com
13 Nov 2017
Over the last few weeks, there have been rumblings and then a confirmation that Broadcom was looking to purchase Qualcomm for approximately $130 billion. At the time, it was reported that Qualcomm was not accepting offers and was recommending that its shareholders reject the offer, as it would likely be held up by regulators.

Qualcomm Rejects Broadcom Offer to Buy the Company for 105 Billion

13 Nov 2017
Shares of Qualcomm have been declining in value in the recent quarters, which is why Broadcom made its proposal. Meanwhile, Qualcomm is a larger company than Broadcom is -- it earns $23 billion a fiscal year (vs. $16.93 billion earned by Broadcom) and it has 33,800 employees (vs. 15,700 employed by Broadcom).
- anandtech.com

Qualcomm Needs to Pick Broadcom or Never Gadfly

- theinformer.life
13 Nov 2017
Quaclomm shares have gained $15 billion in market value since the closing share price 10 days ago, before Bloomberg News reported Broadcom's interest in a deal. The stock price, even after a gain on Monday, remains below Broadcom's offer of $60 a share in cash and $10 a share in stock. The share level shows investor skepticism that the acquisition can pass muster with ...

Qualcomm rejects Broadcom record takeover attempt, proxy battle looms

13 Nov 2017
The original approach came on November 6, when Broadcom offered $70 a share for Qualcomm . Even before the deal was rebuffed Monday, Broadcom had been preparing for a proxy battle in which it would appeal directly to Qualcomm shareholders, according to a Bloomberg News report . Another tactic Broadcom could use is to nominate directors for Qualcomm's board ahead of the ...
- businessinsider.com

Qualcomm Board of Directors Unanimously Rejects Broadcom's Unsolicited Proposal

- crweworld.com
13 Nov 2017
SAN DIEGO, Nov. 13, 2017 /PRNewswire/ -- 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.

Qualcomm to reject Broadcom's 103 billion offer, Reports

13 Nov 2017
While on the other side, Broadcom's CEO Hock Tan, who said earlier this month he would redomicile his company to the United States from Singapore, has stated he is open to launching a takeover battle. The sources said Broadcom was preparing to submit a slate of directors by Qualcomm's Dec. 8 nomination deadline. That would allow Qualcomm shareholders to vote to replace the ...
- mirrorreview.com

Qualcomm Rejects Broadcom Takeover Bid

- industryweek.com
13 Nov 2017
Qualcomm stock, which rallied on the report of the offer, has traded below the bid price on skepticism that a transaction can be completed. The shares ended last week little changed this year. On Monday, Qualcomm rose 2.2% to $65.96 at 11:17 a.m. in New York. Broadcom shares were little changed.

Qualcomm rejects 130 billion Broadcom bid

13 Nov 2017
"We continue to believe our proposal represents the most attractive, value-enhancing alternative available to Qualcomm stockholders," Broadcom president and CEO Hock Tan in a statement. He said many Qualcomm stockholders have told his company they want the companies to meet and discuss the offer.
- money.cnn.com

Qualcomm Rejects Broadcom's Bid, Setting Up 105 Billion Proxy Fight

- bloomberg.com
13 Nov 2017
Buying Qualcomm would reshape the chipmaking industry, transforming Broadcom into the third-largest semiconductor maker, behind Intel Corp. and Samsung Electronics Co. The combined business would instantly become the default provider of a set of components needed to build each of the more than a billion smartphones sold every year. The deal would dwarf Dell Inc.'s $67 ...

Broad Qual NXP Battle Begins

13 Nov 2017
So far, Hock Tan is standing firm. Broadcom was quick to release a statement saying its $70/share offer represents a 28-33 percent premium on Qualcomm's recent stock prices. That's in the neighborhood of a typical deal, but it's not the best house on a block as rich as this one.
- eetimes.com

Apple modem supplier Qualcomm rejects initial 103B bid from Broadcom

- appleinsider.com
13 Nov 2017
In rejecting Broadcom's bid, Qualcomm argued that it "dramatically undervalues Qualcomm and comes with significant regulatory uncertainty." Any such takeover would be one of the largest in history, and face serious scrutiny from U.S. antitrust regulators, not the least because it would give Broadcom unprecedented control over mobile devices.

Qualcomm rejects 105B takeover bid from Broadcom

13 Nov 2017
"Broadcom's proposal significantly undervalues Qualcomm relative to the company's leadership position in mobile technology and our future growth prospects," said Paul Jacobs, chairman of Qualcomm's board, in a statement. Qualcomm also said that the deal would come with significant regulatory uncertainty.
- cnet.com

Qualcomm just killed the world's biggest tech deal

- mashable.com
13 Nov 2017
In a press release, Qualcomm's executive chairman Paul Jacobs announced, "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."

Qualcomm rejects rival Broadcom's proposal

13 Nov 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.
- telecomlead.com
#SanDiego      #PaulJacobs      #QualcommIncorporated      #BroadcomCeoHockTan     
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