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Technology Qualcomm rejects Broadcom's $103 billion takeover bid

07:40  14 november  2017
07:40  14 november  2017 Source:   reuters.com

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Mobile chipmaker Qualcomm on Monday rejected rival Broadcom ’ s $ 103 - billion takeover bid , saying the offer “dramatically” undervalued the US company. Shares of Qualcomm were up 1 percent at .25 in premarket trading, while those of Broadcom fell 0.7 percent to 3.

U.S. chipmaker Qualcomm on Monday rejected rival Broadcom ' s $ 103 billion bid . Qualcomm said the offer "dramatically" undervalued the U.S. company. The rejection sets the stage for one of the biggest-ever takeover battles.

LAS VEGAS, NV - JANUARY 10:  The new Lenovo television is shown during a presentation by Qualcomm at the 2012 International Consumer Electronics Show at The Venetian on January 10, 2012 in Las Vegas, Nevada. CES, the world's largest annual consumer technology trade show, runs through January 13 and is expected to feature 2,700 exhibitors showing off their latest products and services to about 140,000 attendees.© Kevork Djansezian/Getty Images LAS VEGAS, NV - JANUARY 10: The new Lenovo television is shown during a presentation by Qualcomm at the 2012 International Consumer Electronics Show at The Venetian on January 10, 2012 in Las Vegas, Nevada. CES, the world's largest annual consumer technology trade show, runs through January 13 and is expected to feature 2,700 exhibitors showing off their latest products and services to about 140,000 attendees. Mobile chipmaker Qualcomm on Monday rejected rival Broadcom's $103 billion takeover bid, saying the offer dramatically undervalued the U.S. company.

Shares of Qualcomm were up, while those of Broadcom fell.

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(Reuters) - Mobile chipmaker Qualcomm Inc on Monday rejected rival Broadcom Ltd’ s $ 103 - billion takeover bid , saying the offer undervalued the company and would face regulatory hurdles.

Qualcomm rejects Broadcom ' s $ 103 - billion takeover bid (Audio-Video version for people with limited hearing or vision) The full version of the news is

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Qualcomm Inc

QCOM

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Mobile chipmaker Qualcomm Inc on Monday rejected rival Broadcom Ltd' s $ 103 - billion takeover bid , saying the offer undervalued the company and would face regulatory hurdles.

(Reuters) - Mobile chipmaker Qualcomm Inc on Monday rejected rival Broadcom Ltd' s $ 103 - billion takeover bid , saying the offer "dramatically" undervalued the U. S . company.

66.49
+1.92
+2.97%
Broadcom Ltd

AVGO

265.01
+0.05
+0.02%
NXP Semiconductors NV

NXPI

115.65
-0.40
-0.34%
Apple Inc

AAPL

173.97
-0.70
-0.40%

"After a comprehensive review, conducted in consultation with our financial and legal advisors, the Board has concluded that Broadcom's proposal dramatically undervalues Qualcomm and comes with significant regulatory uncertainty," Qualcomm's Presiding Director Tom Horton said in a statement.

Broadcom made an unsolicited bid last week in its efforts to become the dominant supplier of chips used in the 1.5 billion or so smartphones expected to be sold around the world this year.

Reuters reported on Sunday that Qualcomm would rebuff the $70 per share offer, citing people familiar with the matter.

Broadcom could not immediately be reached for comment.

The offer also comes at a time when Qualcomm is trying to close its pending $38-billion acquisition of automotive chipmaker NXP Semiconductors NV.

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퀄컴, 브로드컴의 120조 원대 빅딜 제안 거부 Mobile chipmaker Qualcomm has rejected a 103 - billion U. S . dollar takeover bid from rival Broadcom . Qualcomm , whose processors go

(Reuters) - Mobile chipmaker Qualcomm Inc on Monday rejected rival Broadcom Ltd’ s $ 103 - billion takeover bid , saying the offer undervalued the company and would face regulatory hurdles.

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

A sale to Broadcom would also need a nod from the antitrust officials, who are still considering Qualcomm's purchase of NXP.

Qualcomm, an early pioneer in mobile phone chips, supplies so-called modem chips to phone makers such as Apple, Samsung and LG that help the phones connect to wireless data networks.

"No company is better positioned in mobile, IoT, automotive, edge computing and networking within the semiconductor industry," Qualcomm's Chief Executive Steve Mollenkopf said.

"We are confident in our ability to create significant additional value for our stockholders."

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