Monday, November 13, 2017

Qualcomm Rejects Broadcom Proposal

San Diego-based Qualcomm announced this morning that its board has unanimously rejected the unsolicited acquisition proposal from Broadcom, saying the offer "dramatically undervalues" the company. Broadcom offered to pay $130 billion for Qualcomm on November 6th. Qualcomm said it conducted the review in consultation with financial and legal advisors, also saying that the offer had "significant regulatory uncertainty".