The biggest tech deal ever: Broadcom Limited just made a $103 billion in cash and shares offer to buy Qualcomm. Qualcomm Inc. rejected Broadcom Ltd’s $103 billion acquisition offer, kicking off what would be the largest technology takeover battle in history.
Qualcomm recommended shareholders spurn the deal, saying it’s an opportunistic move by Broadcom to buy the wireless-chip maker on the cheap. Qualcomm also said the transaction may face regulatory scrutiny that would cast doubt on its completion.
“It is the board’s unanimous belief that Broadcom’s proposal significantly undervalues Qualcomm relative to the company’s leadership position in mobile technology and our future growth prospects,” said Paul Jacobs, executive chairman and chairman of the board of Qualcomm, in a statement.
Source: livemint
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