Qualcomm has declined the offer but proposed a meeting with Broadcom to "address the serious deficiencies in value and certainty in its proposal."
Qualcomm on Thursday said its board of directors has unanimously rejected a revised $121 billion buyout offer from Broadcom, saying the proposal "materially undervalues" the chipmaker's assets.
Chip maker Broadcom Ltd. boosted its buyout offer for rival Qualcomm Inc. on Monday to $82 per share — ratcheting up the pressure on shareholders to support a hostile takeover bid. The $121-billion merger would be the largest ever i...
Qualcomm rejected Broadcom’s sweetened offer of more than $121 billion but opened the door for the first time to talks with its hostile suitor.
Qualcomm on Thursday rejected a record $121 billion hostile bid from computer chip rival Broadcom but offered to meet with the Singapore-based firm to discuss the recently increased offer.