Qualcomm plans to reject Broadcom’s $103 billion buyout offer: Report
Monday, 13 November 2017 Chip manufacturer Qualcomm is planning to reject a $103 billion buyout offer from rival Broadcom. Qualcomm’s board is most likely to reject the unsolicited acquisition offer, Reuters reported. It, of course, seeks a higher bid before it gives up control. Qualcomm shareholders reckon that Broadcom’s $70-per-share bid “undervalues” the company, and does not factor in the uncertainty associated with getting the deal approved by regulators. Broadcom, meanwhile, is so keen to take over Qualcomm that it is willing to relocate to the US from current headquarters in Singapore. Broadcom is also readying to submit its selection of directors for Qualcomm’s board. Qualcomm, on the other hand, is preparing a “resistance” to the current price. Broadcom may not entirely be unaware of Qualcomm’s intentions,
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