Qualcomm Spurns $130B Broadcom Takeover Bid As Too Low

US chipmaker Qualcomm Inc. is making preparations to reject rival Broadcom Ltd’s $103 billion bid as early as this week

At the time, Broadcom said that it was prepared to offer as much as $130 billion dollars to take control of Qualcomm. When reports first surfaced about the offer, it was known that Qualcomm wasn't happy with the deal.

Steven Mollenkopf, Qualcomm Chief Executive, has been gathering feedback from the company's shareholders and finds Broadcom's $70-per-share offer is low-price, thus, it undervalues the company and does not price in the indecision associated with getting the bid approved by the regulators, the sources said.

Meanwhile, Qualcomm is trying to acquire NXP for $38 billion but NXPs shareholders are reluctant. Broadcom bid $5.5 billion previous year for data center-connectivity company Brocade.

This could lead to a higher bid from Broadcom in the future, but there's no word on when Broadcom might make another offer. The deal has been delayed by the Committee on Foreign Investment in the United States, which investigates proposed acquisitions of US companies by foreign buyers on national security and intellectual property grounds.

Rapper Nicki Minaj's Brother Jelani Maraj Convicted of Sexually Assaulting a Child
The Associated Press reported a jury found Maraj guilty of predatory sexual assault November 9 following deliberations. Despite much speculation and rumor, Queens native Nicki Minaj (pictured) was not called as a witness for her brother.

On Monday, Qualcomm's (qcom) shares were up to nearly $66, though still below the $70 bid. Broadcom CEO Hock Tan, famed for his M&A expertise in the chip industry, said Qualcomm shareholders told him that they were interested in the deal.

In morning trading in New York, Qualcomm's shares were up 1.2% to $65.38. The combined company would be third-largest chipmaker behind Intel and Samsung.

San Diego-based Qualcomm said the bid undervalues the company's position in thriving areas in the semiconductor industry like mobile, "internet of things", automotive, edge computing and.

It comes as Qualcomm seeks a $47 billion acquisition of Dutch rival NXP, a deal that is the subject of an European Union anti-trust probe. It's also a timely bid Qualcomm, whose earnings this year have been hurt by a global legal fight with Apple over its licensing fees for patents. "With a more extensive item broadening and a more noteworthy scale, the joined endeavor will be in the position to offer all the more mechanically propelled semiconductor answers for the organization's worldwide customers and lift investor esteem", he included.

Related News:

  • OnePlus 5T unboxed ahead of launch, compared with OnePlus 5

    OnePlus 5T unboxed ahead of launch, compared with OnePlus 5

    The black box is similar to the OnePlus 5 boxes that were received by the media, you can check out our OnePlus 5 unboxing here . We have already seen a lots of leaks surrounding the device, including specifications, landing page, press renders, etc.
    Self-driving bus crashes in first hour of service

    Self-driving bus crashes in first hour of service

    None of the eight passengers aboard the driverless vehicle suffered injuries and neither did the truck driver. This shuttle bus can transport up to 15 people and was aimed to be used on the city's famous strip.
    Students injured as driver 'deliberately' ploughs auto  into crowd

    Students injured as driver 'deliberately' ploughs auto into crowd

    A 23-year-old is more seriously injured, a young man and another girl, aged 22 and 23, have lighter injuries. The three injured, one male and two female, are all at their early 20s, said the consulate.
  • Saudi forces lift Yemen airport blockade

    Saudi forces lift Yemen airport blockade

    The blockade came in response to a ballistic missile fired at the Saudi capital Riyadh by the Houthis two days earlier. The coalition tightened its blockade on Yemen after the missile was sacked .
    Coutinho would bring a lot to Barca -Suarez

    Coutinho would bring a lot to Barca -Suarez

    Barcelona made several attempts to land him in August, with bids in the region of £100 million made, but they were knocked back. Nevertheless, a move to Barcelona in January from Liverpool continues to be mooted by the Catalan press.
    Details Emerging After FSU Fraternity Member Found Dead

    Details Emerging After FSU Fraternity Member Found Dead

    University president John Thrasher announced the suspension on Monday, three days after the death of Andrew Coffey . The fraternity has been suspended by its national organization pending the conclusion of the investigation.
  • Centre slashes GST on 178 mass use items

    Centre slashes GST on 178 mass use items

    Hotels within five-star restaurants (room rent above Rs 7,500) will attract 18 per cent with ITC benefits. At present, while manufacturers pay GST at 2 per cent, the rate for restaurants is 5 per cent.
    Uber Partners With NASA to Help Develop Flying Taxis

    Uber Partners With NASA to Help Develop Flying Taxis

    Since then, Uber Elevate has been working on plans to bring a flying taxi service to Dallas-Fort Worth and Dubai. In the midst of its many scandals , Uber is moving ahead with its flying auto project, known as Elevate .
    Chrissy Teigen fails at boycotting Twitter's new update

    Chrissy Teigen fails at boycotting Twitter's new update

    Only five percent of users went above 140 characters during the test, and only 2 percent ever went north of 190 characters. This week, the social media outlet started allowing most users 280 characters for their tweets .
  • Legendary driver Mario Andretti gives sad Matt Kenseth the highest compliment possible

    Legendary driver Mario Andretti gives sad Matt Kenseth the highest compliment possible

    Keselowski advances to the final round at the expense of Denny Hamlin , who had the best auto throughout much of Sunday's race. After Lap 235 of 312: A caution from Trevor Bayne's Ford slamming the wall led to Denny Hamlin's first real problem Sunday.
    Cleveland Browns gave yet another game away

    Cleveland Browns gave yet another game away

    The first half ended with the Browns running out of time at the Lions' 2-yard line and Detroit still in control 17-10. Decker, the 16th overall pick in the 2016 draft, was making his season debut after undergoing labrum surgery.
    Korea Start Drills In Show Of Force Against N. Korea

    Korea Start Drills In Show Of Force Against N. Korea

    It has repeatedly threatened to launch ballistic missiles into the waters around the US territory of Guam. Pacific Fleet Commander Admiral Scott Swift described the training as a "rare opportunity".


Most liked

Chevrolet unveils latest Corvette ZR1 with a massive 6.2-liter V8 engine
Behind those gaping air intakes and beneath that carbon fiber hood beats the 2019 Chevrolet Corvette ZR1's 755-horsepower heart. The nose of the ZR1, meanwhile, has been heavily redesigned to provide additional airflow for the engine and cooling systems.

Deployment of United States carrier groups raise nuclear war threat: North Korea
The United States has said that all options, including military, are on the table to deal with North Korea, although its preference is for a diplomatic solution.

'I stabbed someone to death' Philippines president Duterte admits shock murder
This is not the first time Mr Duterte has claimed to have killed others. "Sabihin ko sa kanila, you are too presumptuous". In 2015, while he was mayor of Davao City, Mr.

West Indies to tour Pakistan in March next year
The reciprocal series in United States of America in 2018 will be a tri-series, with the third participant yet to be finalized. The series will comprise three T20 matches on March 29, 31, and April 1 and all the matches will be played in Lahore.

Conor McGregor Slaps Security, Pushes MMA Ref
McGregor then tried to run back into the octagon and when stopped again, swung a punch at Bellator staff member Mike Johnson. McGregor is now planning his return to UFC having not fought in MMA for a year. "I was trying to say, "keep going".

Alabama, Clemson, Georgia, Notre Dame aides on Broyles list
These two games also feature two Heisman Trophy contenders in Adams for Notre Dame and quarterback Baker Mayfield for Oklahoma. But the Tigers will need a lot of help even if they beat Georgia twice and Alabama once to win the SEC championship .

Morocco, Tunisia take different paths to World Cup
Morocco and Tunisia have joined Nigeria, Egypt, and Senegal as the African teams who will be playing in the World Cup this summer. Dirar opened the scoring off a cross-turned-shot on 25 minutes and Benatia doubled the lead after a corner on the half-hour.

Twitter pauses verifications after verifying Charlottesville organizer
Unfortunately for those of you awaiting your verification, Twitter seems to have listened to user criticism, at least this time. Any Twitter user can apply for verification, but at times the company has appeared to wield the coveted status as a weapon.

Sensex Rebounds Nearly 250 Points, Nifty Above 10350
Sensex was down by over 53 points or -0.16% at 33,197.09 while the wider Nifty was down by over 17 points or 0.17% at 10,291.00. A weakening rupee, which depreciated by 39 paise to 65.07 against the dollar during the day, too dampened investor sentiment.

Nixa High School honors veterans and their service
Pettyjohn said the Veterans Day assembly is important, "giving students exposure to something they wouldn't normally see". It was a patriotic scene at the Custer Armory as the entire district gathered to honor Veteran's day .

Hope Solo claims former Federation Internationale de Football Association president sexually assaulted her in 2013
Directly", she told the She said that sexual harrassment at the hands of male officials was a common problem in women's football. That year, Solo was onstage to present FIFA's women's world player of the year to her teammate, the striker Abby Wambach.

Poll Shows Alabama Race Tied After Allegations Against Roy Moore
Moore explained that he rejects calls for him to recuse himself from the Senate race because he "had nothing to do with this". It's too late for Alabama Senate candidate Roy Moore's name to be removed from the ballot, even if he wants to drop out.

Russian Federation crafting new law forcing USA media to register as 'foreign agents'
Simonyan said that RT will comply, otherwise she could be arrested and the news outlet's accounts frozen. He said some US media in Russian Federation were trying to turn USA public opinion against Moscow .

Demonetisation shows govt resolve to cure dreaded disease of black money: Jaitley
His barb about "low-level rhetoric" was aimed at those in the BJP that react angrily to any criticism of the government's moves. In contrast, Singh said of his time in power, "I can proudly say that we lifted 140 million people out of poverty".

Kevin Spacey's Scenes Are Being Totally Replaced In A Just-Finished Movie
Paul Getty , the industrialist who was named by the the richest living American in1966 by the Guinness Book of World Records . Spacey, who was 26 at the time , said: "I honestly do not remember the encounter, it would have been over 30 years ago".