Friday, February 9, 2018

Qualcomm Rejects Broadcom's New Takeover Proposal

San Diego-based Qualcomm has rejected the new takeover proposal from Broadcom, saying Thursday that the proposal "materially undervalues Qualcomm" and "falls well short" of regulatory commitments, and has a "significant downside risk of a failed transaction." However, Qualcomm did say that it would be willing to meet with Broadcom to see if it can address those issues. Broadcom had upped its offer for Qualcomm to $82.00 per share, split between $60.00 in cash and $22 in stock, earlier this week.