UPDATE: Qualcomm Rejects Broadcom's Acquisition Bid of $130 Billion USD

The highest bid ever in the tech industry.

By //Tech

UPDATE: On Monday morning, November 13, the board of directors at Qualcomm unanimously rejected Broadcom’s unsolicited, $130 billion USD acquisition bid.

“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 Incorporated, in a statement on the company’s website.

Broadcom has yet to respond to Qualcomm’s rejection.


In light of recent financial struggles, including legal trouble with Apple, American tech company Qualcomm has had a tumultuous 2017. Despite some triumphs, like debuting cutting-edge fingerprinting technology, the company’s stock has dropped. Now, a rival electronics company, Broadcom, has stepped up as a potential buyer.

Offering up a whopping $130 billion USD, the bid for Qualcomm is the highest price ever named for a tech acquisition. Recently acquired by a Singaporean company, Broadcom’s unsolicited offer has reportedly been derided by Qualcomm, with the company recommending shareholders to reject it. Both Broadcom and Qualcomm produce supplies for Apple products, and the merger’s resulting company would be the world’s third biggest chipmaker, with a substantial patent portfolio. This could result in raised prices for WiFi and chips.

The deal is expected to fall through, so regulators in America shouldn’t have much to fear. In related tech news, watch Samsung take down past iterations of the iPhone.

Read Full Article
Source
Engadget
QualcommBroadcom

You may also like

Disney Agrees $52 Billion USD Deal for Fox's TV and Film Studios
Entertainment

Disney Agrees $52 Billion USD Deal for Fox's TV and Film Studios

As Disney prepares to launch its own streaming service.
3,011 Hypes 11 Comments
Google Buys HTC's Pixel Team for $1.1 Billion USD
Tech

Google Buys HTC's Pixel Team for $1.1 Billion USD

Google wants to build up its hardware division.
2,723 Hypes 0 Comments
Google's Parent Company Just Invested $1 Billion USD in Lyft
Tech

Google's Parent Company Just Invested $1 Billion USD in Lyft

Bringing Lyft’s valuation to $11 billion USD.
3,018 Hypes 0 Comments
Uniqlo's International Revenue For Last Quarter Is $2.3 Billion USD
Fashion

Uniqlo's International Revenue For Last Quarter Is $2.3 Billion USD

For the first time, the retailer has more sales outside Japan than in it.
4,209 Hypes 10 Comments
Supreme's Buyout Reportedly Values the Brand at $1 Billion USD
Fashion

Supreme's Buyout Reportedly Values the Brand at $1 Billion USD

The latest developments in the Carlyle Group deal.
26,886 Hypes 0 Comments


What to Read Next

Moncler Debuts Citywide Event 'Destination Hong Kong' With Special Edition Figure
Fashion 

Moncler Debuts Citywide Event 'Destination Hong Kong' With Special Edition Figure

Mr. Moncler takes over the city.
2,656 Hypes 0 Comments

adidas UltraBOOST Mid ATR "Glitch" in Heather Grey/Noble Indigo
Footwear

adidas UltraBOOST Mid ATR "Glitch" in Heather Grey/Noble Indigo

A comfortable opponent for inclement weather.
2,436 Hypes 0 Comments

Slugz Fall/Winter 2017 is Streetwear for Gamers
Fashion

Slugz Fall/Winter 2017 is Streetwear for Gamers

“Slugz will allow you to connect with others offline.”
2,981 Hypes 0 Comments


Supreme x Independent Fall/Winter 2017 Collection
Fashion

Supreme x Independent Fall/Winter 2017 Collection

New week, new collaboration.
53,857 Hypes 0 Comments

'Dark' Provides More Goosebumps in Full-Length Trailer
Entertainment

'Dark' Provides More Goosebumps in Full-Length Trailer

Think ‘Stranger Things’ but German and scary.
9,130 Hypes 0 Comments

UPDATE: STASH x Nike Air Zoom Spiridon '16 Release Date
Footwear

UPDATE: STASH x Nike Air Zoom Spiridon '16 Release Date

You’ll want to save some money post-Black Friday.
8,673 Hypes 0 Comments

More ▾