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

$103 billion takeover bid from Broadcom will be rejected by Qualcomm, according to the latest rumors.

@anthony256

Published Nov 12, 2017 11:48 PM CST
Updated Nov 3, 2020 12:53 PM CST

43 seconds read time

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.

Qualcomm to reject Broadcom's huge $103 billion takeover bid | TweakTown.com

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.

NEWS SOURCE:engadget.com

Anthony Garreffa

Anthony joined the TweakTown team in 2010 and has since reviewed 100s of graphics cards. Anthony is a long time PC enthusiast with a passion of hate for games built around consoles. FPS gaming since the pre-Quake days, where you were insulted if you used a mouse to aim, he has been addicted to gaming and hardware ever since. Working in IT retail for 10 years gave him great experience with custom-built PCs. His addiction to GPU tech is unwavering and has recently taken a keen interest in artificial intelligence (AI) hardware.