Report: Qualcomm declines Broadcom's acquisition offer - Breaking The News

Report: Qualcomm declines Broadcom's acquisition offer

13 November

1 min read

EPA/ANDREW GOMBERT

Qualcomm Inc. has rejected Broadcom Ltd.'s bid to acquire the company for a total of $130 billion, CNBC reported on Monday.

The report cited unnamed sources saying that Qualcomm CEO Steven Mollenkopf and shareholders believe the bid which equals $70 per share undervalues the company. According to the sources, Broadcom is mulling the possibility to raise the bid, but it is still not certain if and when the company could submit its next offer.

Last week, Broadcom offered to buy the Singapore-based company for $103 billion, with another $25 billion in assumed debt.

qualcomm mergers and acquisitions broadcom

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