Qualcomm dismisses Broadcom's latest offer - claims it still undervalues the company

Qualcomm dismisses Broadcom's latest offer - claims it still undervalues the company

Broadcom said that it would pay $60 in cash and $22 of Broadcom stock for each Qualcomm share.

Qualcomm contends that overlap in Wi-Fi, Bluetooth and other product lines, as well as customer concerns, could result in a lengthy review by global regulators, who might require selling off divisions or block the deal outright. If Broadcom manages to get its own people there, then its takeover bid is nearly as good as done.

This, too, met with failure and resulted in Broadcom pushing forward a final offer.

In a letter to Broadcom CEO Hock Tan, Qualcomm claimed that the $146 billion offer made on Monday (5 February) had once again "undervalued" the company.

"We believe this amended agreement provides the foundation for a long-term, stable relationship with Samsung following the KFTC investigation", added Qualcomm's executive VP and president of its licensing tech arm, Alex Rogers.

Broadcom is incorporated and now based in Singapore, but Tan announced late a year ago while visiting President Donald Trump at the White House that the company would return its corporate headquarters to the USA, using San Jose as a base.

The Rob Porter scandal has exposed the real John Kelly
Meanwhile, a number of Democrats denounced Trump's comments about Porter and his lack of empathy for the women who alleged abuse. And the official stressed that the Federal Bureau of Investigation had at no point revoked Porter's interim security clearance.

Patrick Surtain Jr. picks Alabama on national signing day
Alabama wanted him, Auburn did as well and Florida had hoped to get Walker on campus, but this one really came down to Smart vs. That is a big need for Georgia in this class and that is why the Bulldogs went after Walker so hard until the final minute.

Alabama's run of top-rated classes ends on National Signing Day
UWG's signing class consists nearly exclusively of players from Georgia high school programs. The reigning national champions, Alabama , are at No. 4 or 7 in the three rankings.

The Qualcomm Board of Directors unanimously rejected a revised $121 billion buyout offer from Broadcom. Qualcomm said it would challenge that fine. This is after the two companies are expected to meet with the shareholder advisory firms ISS and Glass Lewis about their conflicting proposals for Qualcomm's AGM in March.

"After having met with most of your largest stockholders this past week, we have no doubt that this is their strong desire as well", he wrote. Broadcom welcomed the move, but said it wanted to meet before Qualcomm's proposed date on Tuesday, ahead of scheduled meetings with proxy advisory firms.

His response came three days after Broadcom boosted its offer to $82 per share in a bid to create a global giant in the chip-making sector.

Broadcom may be keen to seal the deal, but Qualcomm also has acquisitions of its own to handle.

Broadcom's takeover attempt is complicated further by Qualcomm's pending acquisition of NXP Semiconductors NV, meant to give Qualcomm broader access to new markets. NXP shares closed at $115.94 on Thursday, indicating investors were expecting a sweeter deal.

Related news:

Hot News

isis-killer-beheading-video-story-top Saucy! February 9 is National Pizza Day
Feb 10, 2018 - 02:50
From Pizza Hut to even Baskin Robbins , there are plenty of chains who are ready and willing to make sure you are doing it right. California Pizza Kitchen is giving complimentary samples of the restaurant's new Cauliflower Pizza Crust , today only.

isis-killer-beheading-video-story-top United Kingdom central bank signals rate increase in case of Brexit deal
Feb 10, 2018 - 02:49
That we are now moving - albeit very slowly - to what is a more "normalised" interest rate environment is undeniably welcome. Higher interest rates will come as a blow to mortgage payers who will see their monthly payments increase.

isis-killer-beheading-video-story-top Windows 10 'Redstone 4' test build adds diagnostics-delete button
Feb 10, 2018 - 02:48
While there are some exciting improvements to the system graphics, the company also unveiled some privacy and security changes. Edge's full-screen mode now allows you enter the address bar and go to other sites, attach a site as a favorite, and so on.

isis-killer-beheading-video-story-top Credit Suisse 'volatility' fund liquidated
Feb 09, 2018 - 03:28
Did volatility funds hurt the market? The spike in volatility does open up some attractive options market opportunities. Roll-over rebalancing is related to the fact that the short-term volatility futures contracts expire on a daily basis.

isis-killer-beheading-video-story-top North Korea says USA will make FIRST STRIKE in nuclear apocalypse warning
Feb 09, 2018 - 03:28
Despite an worldwide outcry and crippling sanctions, Pyongyang has refused to scale back its nuclear ambitions. North Korea has a history of responding harshly , even hysterically, to mentions of their human rights abuses.

isis-killer-beheading-video-story-top Student Claims Spirit Airlines Forced Her To Drown 'Emotional Support' Hamster
Feb 09, 2018 - 03:27
The TSA notably will accommodate small animals like hamsters, but as the Herald pointed out, individual airlines are less lenient. According to Aldecosea , she was told by Spirit Airlines that Pebbles would be able to board the plane without a problem, twice.

isis-killer-beheading-video-story-top A guide to every 'Star Wars' project, including spinoff by 'Thrones' creators
Feb 09, 2018 - 03:26
Back in November, Disney also announced plans to debut a new live-action " Star Wars " series on its upcoming streaming service. Benioff and Weiss said in a joint statement that they are honored and "a little terrified" by the responsibility.

isis-killer-beheading-video-story-top Turkey, Iran violating global law in Syria
Feb 09, 2018 - 03:26
On Monday, Iran urged Turkey to halt the Afrin operation, saying it breached Syrian sovereignty and would increase tension. Turkish Foreign Minister Mevlut Cavusoglu paid a surprise visit to the Iranian capital Tehran on Wednesday.

isis-killer-beheading-video-story-top United Kingdom accuses European Union of bad faith over Brexit transition plan
Feb 09, 2018 - 03:26
May visited Japan in August previous year aiming to push forward with plans for a Britain-Japan free trade agreement. David Davis has hit back at "discourteous" European Union plans to punish Britain during a Brexit transition period.

isis-killer-beheading-video-story-top Meghan Markle's shocking message to her brother ahead of wedding
Feb 08, 2018 - 16:19
Ann Widdecombe has suggested Prince Harry will tweak his royal role to stay with Meghan Markle . "I know I joke around a lot, Mr. "Congratulations to my TV daughter Meghan Markle and Prince Harry on the news of their wedding engagement", he wrote .

isis-killer-beheading-video-story-top Harry Kane is Europe's best admits Arsene Wenger despite derby tension
Feb 08, 2018 - 16:17
But here, talkSPORT.com is more concerned with the present and tells you what you need to know about the north London derby. We want to get diving out of the game.

isis-killer-beheading-video-story-top Bonds weaker as no date is set for Zuma's exit
Feb 08, 2018 - 16:17
His presidency has been dominated by an economic slowdown, record unemployment and allegations of corruption. The address is always made by the sitting president, and is the political event of the year in South Africa.

isis-killer-beheading-video-story-top Obama Claims He Doesn't Talk To FBI Director About Pending Investigations — FLASHBACK
Feb 08, 2018 - 16:15
Multiple outlets have pointed out that this couldn't have had anything to do with the Clinton email investigation, since that had been closed in July.