Qualcomm to reject Broadcom's huge $103 billion takeover bid

The rumors of a Qualcomm takeover started a week ago with a huge $103 billion deal from Broadcom, but now Reuters is reporting that Qualcomm's board is planning to reject the offer.

Broadcom will reportedly offer $70 per share, which Reuters' sources say "undervalues the company and does not price in the uncertainty associated with getting the deal approved by regulators". Qualcomm is said to announce news of the $103 billion any minute now, but it might take a few days to trickle down to us in the real-world where $103 billion is unimaginable.

But as all big stories of $100 billion plus deals, Broadcom is said to be prepared to increase its bid to acquire Qualcomm according to Reuters' sources. It can get dirty from here, with Broadcom hoping to choose its own directors for Qualcomm's board, and if shareholders wants a deal, they can vote in new board members and force Qualcomm to negotiations.