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Qualcomm rejects Broadcom's takeover offer

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Peter 13 November 2017

Qualcomm Broadcom Mobile hardware

Update: Qualcomm's board officially rejected the deal saying it "dramatically undervalues" the company. They are also not certain that the regulatory bodies will allow such a deal to go forward.

Inside sources claim that Qualcomm’s board of directors will reject Broadcom’s offer to acquire the Snapdragon chip designer. The board has not made any official statements, but has allegedly met on Sunday to discuss the offer.

Broadcom’s offer was for $70 a share – valuing Qualcomm at just north of $100 billion dollars (the deal would include $25 billion of debt). Qualcomm’s stock closed at $64.57 a share on Friday, however the board of directors believes Broadcom’s offer undervalues their company.

Meanwhile, Qualcomm is trying to acquire NXP for $38 billion but NXP’s shareholders are reluctant. Its own board similarly thinks that the offer undervalues the company and NXP’s shares were trading above Qualcomm’s offer.

Qualcomm will reportedly reject Broadcom's offer

Broadcom doesn’t care about the outcome of that deal – it has stated that it wants to acquire Qualcomm with or without NXP.

More importantly, Broadcom’s CEO is allegedly willing to renegotiate the deal that Apple has with Qualcomm for modems used in iPhones and iPads. Apple is currently suing because it believes it is overpaying for those modems. Apple is already buying chips from Broadcom (e.g. for Wi-Fi connectivity).

Source 1 • Source 2

Related articles
  • Broadcom offers to acquire Qualcomm for $130 billion Broadcom offers to acquire Qualcomm for $130 billion
  • Apple sues Qualcomm for $1 billion over excessive royalties Apple sues Qualcomm for $1 billion over excessive royalties
  • Apple plans to drop Qualcomm modems in 2018 Apple plans to drop Qualcomm modems in 2018
  • Qualcomm sues Apple in China aiming to ban iPhone production and sales Qualcomm sues Apple in China aiming to ban iPhone production and sales

Reader comments

S
  • Silent Line
  • PPh
  • 25 Jan 2018

GG. Not a good deal seeing cheap phones go expensive hehe.

  • Reply
A
  • Aslipundit
  • KAC
  • 14 Nov 2017

Lol, the biggest ARM semi conductor company the world, with thousands of exclusive patents in the soc and modem space. Turd, lol.

  • Reply
?
  • Anonymous
  • PA7
  • 14 Nov 2017

Lol Only ifans believe that, they willing to pay hi price for battery getting bigger less than 2months (i8), greenish screen and defective ear phones (iX)

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  • Read all comments
  • Post your comment
Total reader comments: 13

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