Qualcoom says No to the sensational offer presented last November 6 by Broadcom, refusing 103 billion dollars. The reason? They are too few.
After the rumors, the official announcement has also arrived. The US processor giant considers the offer presented by the rival giant too low and also underlines the possible problems it would imply from the point of view of regulation. According to a statement released by Qualcoom: "The board of directors, which expressed itself unanimously, believes that Broadcom's proposal significantly underestimates Qualcomm, considering the company's leadership position in mobile technologies and future growth prospects.
Broadcom had Broadcom formulated an offer of $70 for each share of Qualcomm, including $60 in cash and $10 in stock. a figure 13% higher than Qualcomm's close on Friday, Nov. 5 on Wall Street ($61,81).
"The Board - the press release continues - unanimously rejected the unsolicited offer announced by Broadcom on November 6".
"We are confident in our ability to create additional shareholder value," said Qualcomm Chief Executive Officer Steve Mollenkopf. Tom Horton, presiding director of the company, also along the same lines: 'After an organic review, the Board concluded that Broadcom's offer drastically underestimates Qualcomm and brings with it various elements of uncertainty from a regulatory point of view', he said.
