Thursday, February 8, 2018

Qualcomm rejects Broadcom's latest offer

The Board of Directors of Qualcomm unanimously rejected the latest bid from Broadcom posted -5-February-2018, saying the offer of $82.00 per share ($60.00 in cash and $22.00 in Broadcom stock) significantly undervalues the company and poses regulatory risks.

In an open letter to Mr. Hock Tan, Broadcom's CEO, the directors of Qualcomm point out that the offer "ascribes no value to our accretive NXP acquisition, no value for the expected resolution of our current licensing disputes and no value for the significant opportunity in 5G."