Qualcomm Rising: Rejects Broadcom Bid for 'Significantly Undervaluing'
Nov 16, 2017, 02:06
USA chipmaker Qualcomm Inc (QCOM.O) is making preparations to reject rival Broadcom Ltd's (AVGO.O) $103 billion bid as early as this week, four people familiar with the matter said on Sunday, setting the stage for one of the biggest-ever takeover battles.
Qualcomms stock closed at $64.57 a share on Friday, however the board of directors believes Broadcoms offer undervalues their company.
Last week Broadcom offered to buy all of the outstanding shares of Qualcomm for $105 billion in total for cash and stock.
A building on the Qualcomm campus is seen, as chip maker Broadcom Ltdannounced an unsolicited bid to buy peer Qualcomm Inc for $103 billion, in San Diego, California, U.S. November 6, 2017.
Qualcomm CEO Steve Mollenkopf added that the USA chip maker has a future in mobile, the Internet of Things (IoT), edge computing and networking within the semiconductor industry, and the firm has no doubt of future growth in these areas. "We are confident in our ability to create significant additional value for our stockholders as we continue our growth in these attractive segments and lead the transition to 5G", added Steve Mollenkopf, CEO of the firm.
Kearney annual Veterans Day Parade 11 am Saturday
At 11 a.m., the 16th annual Elk Grove Veterans Day Parade will proceed south on Elk Grove Florin Road to Elk Grove Regional Park. A brief memorial ceremony will take place immediately following the parade, in Folsom City Lions Park at the Veterans Memorial.
While Tan did not specifically address whether Broadcom would make a hostile bid, he said, "It remains our strong preference to engage cooperatively with Qualcomm's board of directors and management team".
"Many have expressed to us their desire that Qualcomm meet with us to discuss our proposal". Qualcomm and Broadcom did not immediately respond to requests for comment.
It comes as Qualcomm seeks a $47 billion acquisition of Dutch rival NXP, a deal that is the subject of a European Union antitrust probe. Broadcom is said to be considering a proxy contest, asking Qualcomm stockholders to vote on replacing the latter's current board with a slate of candidates put up by Broadcom.
The right price for Qualcomm could be between $80 and $85 per share, and Broadcom could go up to $90, Susquehanna analyst Christopher Rolland told Reuters.
However, we do not know for sure whether the new iPad will also allow wireless charging or if they will feature a glass back. A video was recently shared on reddit, in which a man demonstrates that his brother was able to unlock his iPhone X.
Last week Papadopoulos pleaded guilty to lying to FBI investigators about his Russian Federation contacts during 2016. But he also said he had "been in a lot of meetings with him (Trump), and I've learned a lot from him".
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However they stayed on their side of the field and never came close to meeting like owners typically do before a game. That's a reasonable reaction, unless and until Jerry Jones decides to sue his partners to block Goodell's contract.
World of Warcraft was the focus of some major announcements at this weekend's BlizzCon in Anaheim, California. There are also other battlegrounds in the pipelines, along with new arenas in Tiragarde and Zuldazar.
Enloe Medical Centre spokeswoman Nicole Johansson said the hospital was treating four people this morning, including three minors. Police fatally shot the attacker after reports of at least seven shooting scenes, including an elementary school, Johnston said.
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Joseph said Lynch hasn't played enough football yet since returning from the injury to be ready to start. The Broncos may look to trade him next offseason and move on with Osweiler, Lynch or someone else.
Delhi government seeks exemptions for odd-even this year
We will go back to NGT on Monday, file a review petition for them to reconsider their decision regarding the two", said Gehlot. The AAP had alleged that the subtle burning in Punjab and Haryana, was the main cause of the rising pollution in Delhi .
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