Qualcomm rejected the takeover bid from the chip maker Broadcom
Qualcomm rejected the takeover bid from the chip maker Broadcom. The latest bid was launched on February 5th, offering to buy all Qualcomm stocks at 60 USD per share and 22 USD in Broadcom shares. Thus, the value of the acquisition transaction is estimated at 121 billion USD, making it the largest in the history of the technology sector.
Qualcomm declined to merge with Broadcom for the second time. Previously, in November, it rejected a proposal worth 103 billion USD.
Qualcomm’s board of directors believes that Broadcom’s last offer significantly undermined the company. However, the company offered to hold a meeting with Broadcom representatives to discuss the shortcomings of the proposal.
Qualcomm is one of the largest manufacturers of mobile chips and components, which processor solutions are used in smartphones and tablets Nokia, LG, Samsung, HTC, Sony and others. The Company and based in San Diego, California (USA).
Broadcom is one of the world leaders in the manufacture of integrated circuits for communication devices. The market capitalization of the company is about 100 billion USD.