#qualcomm broadcom

Qualcomm Incorporated has announced that its Board of Directors unanimously rejected the unsolicited proposal announced by Broadcom Limited ("Broadcom") on November 6, 2017. On November 6, 2017, Broadcom announced that it has submitted a proposal to acquire Qualcomm for $70.00 per share in cash and stock in a transaction valued at $130 Billion. 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,” said Steve Mollenkopf, Chief Executive Officer of Qualcomm Incorporated. “The Board and Management are singularly focused on driving value for Qualcomm’s shareholders. After a comprehensive review, conducted in consultation with our financial and legal advisors, the Board has concluded that Broadcom’s proposal dramatically undervalues Qualcomm and comes with significant regulatory uncertainty. We are highly confident that the strategy Steve and his team are executing on provides far superior value to Qualcomm shareholders than the proposed offer,” said Tom Horton, Presiding Director for Qualcomm Incorporated. Qualcomm has released a development smartphone and tablet that touts the latest Snapdragon 810 processor. Read more in our articles including "Qualcomm rejects Broadcom's $130 billion takeover proposal" and "Banks, e-wallets face new BSP rules on digital payment fees".