Sci-tech

Now, now, Qualcomm... Don't play hard to get, grins Broadcom

Now, now, Qualcomm... Don't play hard to get, grins Broadcom

United States semiconductor and telecommunications firm Qualcomm rejected a $103bn takeover bid from competitor Broadcom on Monday, saying the offer "dramatically" underestimated the value of the company.

San Diego-based Qualcomm is going to reject a $103 billion purchase offer made by rival Broadcom, according to a Reuters report.

"Our proposal provides Qualcomm stockholders with a substantial and immediate premium in cash for their shares, as well as the opportunity to participate in the upside potential of the combined company", said Hock Tan, President and Chief Executive Officer of Broadcom at the time.

Redskins' Maurice Harris Makes One-Handed Touchdown Catch
Case Keenum played as well as he ever has in his career.until the Vikings had built a seemingly insurmountable lead. The call was reversed, resulting in a 36-yard touchdown catch that you'll see on highlight reels for a while.

The bid "significantly undervalues Qualcomm relative to the company's leadership position in mobile technology and our future growth prospects", Paul Jacobs, chairman and son of Qualcomm co-founder Irwin Jacobs, said in a statement.

This comes shortly after Qualcomm filed another lawsuit against its main chip purchaser, Apple, claiming that it broke a confidentiality clause found in its contract.

Qualcomm also said the offer poses "significant regulatory uncertainty" for the firm, adding that strategy being executed by Mollenkopf is "far superior" in value to its stockholders than the proposed offer.

Saudi-led coalition to allow commercial flights to Yemen: minister
This comes as Saudi Arabia recently intercepted a ballistic missile fired from Yemen near the capital, Riyadh. The Huthis continue to control the capital Sanaa and much of Yemen's north.

Broadcom doesnt care about the outcome of that deal – it has stated that it wants to acquire Qualcomm with or without NXP. Broadcom's surprise bid for Qualcomm was announced a week ago and would have resulted in the biggest merger to date in the tech industry.

ZDNet has reached out to Broadcom and will update if we hear more. Qualcomm and Broadcom did not immediately respond to requests for comment. Broadcom's (avgo) shares, up nearly 50% so far this year, were largely unchanged on Monday at $264.28. Samsung and Apple are the only two smartphone OEMs who have a choice to not use Qualcomm technology because they both make their own chips. Amid all the fighting with Apple, and accompanying loss of revenue, Qualcomm's shares had fallen 20% this year through late October to $51 before rumors of Broadcom's interest leaked. Regulators are already scrutinizing Qualcomm's $38-billion acquisition of automotive chipmaker NXP Semiconductors NV.

Salman Khan's Race 3 goes on floor
And Salman, who is reuniting with Jacqueline after three years, shared the flawless mahurat shot with his fans on social media. Moreover, looking at Bobby Deol being one of the new entrant, it seems he might be the one to reprise Anil's role in Race 3 .


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