Home » World

Qualcomm spurns Broadcom's $103 billion takeover proposal

14 November, 2017, 01:42 | Author: Kristen Ingram
  • FSMNews

As we said when the proposal was announced, it's likely that Broadcom also smelled blood in the water, because Qualcomm is now fighting a battle on multiple fronts, what with the ongoing dispute with Apple, the Federal Trade Commission (FTC) investigation, and other conflicts.

It was also said the offer does not price in the "uncertainty associated with getting the deal approved by regulators". Another tactic Broadcom could use is to nominate directors for Qualcomm's board ahead of the company's annual general meeting in 2018.

The spontaneous proposition of Broadcom added up to US$70 per share, which included US$10 in stock and US$60 in real money, or 28% more than the end cost of Qualcomm on Thursday, November 02, 2017, preceding the reports of the merger surfaced.

Broadcom presented a US$130 bn offer for Qualcomm, its adversary chip producer.

At the time, some Wall Street analysts said Qualcomm might turn down the deal. "This complementary transaction will position the combined company as a global communications leader with an impressive portfolio of technologies and products". A combination with Broadcom would not have propelled it past industry leaders Intel and Samsung.

NXP shares have been trading above Qualcomm's offer price, as many NXP shareholders, including hedge fund Elliott Management Corp, have been holding out for a better price.

Broadcom Ltd., also announced, in the company of President Donald Trump, that it would bring its corporate address back from Singapore, to Delaware.

"Many have expressed to us their desire that Qualcomm meet with us to discuss our proposal". Because, though Broadcom is the world's largest WiFi chip manufacturer, they are owned by another company named Avago Technologies.

San Diego-based Qualcomm said the bid undervalues the company's position in thriving areas in the semiconductor industry like mobile, "internet of things", automotive, edge computing and. "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 (mobile technology)".

Recommended:

  • Ex-Trump aide Flynn probed over secret Turkey dealings

    Ex-Trump aide Flynn probed over secret Turkey dealings

    President Recep Tayyip Erdogan, who has pressed the U.S.to extradite him, views the cleric as a political enemy. The discussions allegedly involved the possibility of transporting Mr.
    Seoul, Washington start manoeuvers with U.S.  aircraft carriers

    Seoul, Washington start manoeuvers with U.S. aircraft carriers

    It's the first time since 2007 that three United States carrier strike groups are operating together in the Western Pacific. The last time such a convergence of military power occurred was in 2007 in waters off the U.S. territory of Guam.
    23rd GST Council Meeting begins in Guwahati

    23rd GST Council Meeting begins in Guwahati

    He also said the Council had been looking at the 28 percent tax slab and constantly rationalising items in it in lesser tax slabs. The panel also recommended lowering tax rates for manufacturers and restaurants under the composition scheme to 1 per cent.
  • Israel has denied the statement about the downed Russian drone

    Israel has denied the statement about the downed Russian drone

    The reason is obvious, and it's that the Syrian regime no longer has military capabilities due to its defeats. That is why the new Israeli threats are against Hezbollah in both Lebanon and Syria.
    NASCAR at Phoenix: Matt Kenseth wins, but Brad Keselowski advances to championship

    NASCAR at Phoenix: Matt Kenseth wins, but Brad Keselowski advances to championship

    Stage 3: Elliott had the lead with about 10 laps to go, but Kenseth passed him and was able to hold off the youngster for the win. After Lap 235 of 312: A caution from Trevor Bayne's Ford slamming the wall led to Denny Hamlin's first real problem Sunday.
    Week 11's best top-10 showdown?

    Week 11's best top-10 showdown?

    Miami (9-0): The Hurricanes are one of just four Power 5 unbeatens remaining, and probably need to win out to reach the playoff. Alabama could probably lose to Mississippi State and still make the playoff if it won the rest of its games.
  • Users complain about unresponsive edges

    Users complain about unresponsive edges

    Recently, a handful of Pixel 2 XL owners have taken to Google's product forums with a new issue - unresponsive touchscreen edges. Stay tuned with us for more on the software issues on both the Pixel 2 and Pixel 2 XL.
    Sixteen killed after boat capsizes in Vijayawada

    Sixteen killed after boat capsizes in Vijayawada

    They said that the passengers were stuck beneath the boat and despite having the life jackets they were struggling to come out. Twenty people died in September when a boat packed with labourers capsized on the Yamuna river in northern India.
    Russian parliament mulls response to U.S.  move on RT

    Russian parliament mulls response to U.S. move on RT

    Russian influence in the US has come under increasing scrutiny in the months following the 2016 presidential elections. Moscow responds to a USA demand for RT to register in this category in America.
  • Cleveland Browns gave yet another game away

    Cleveland Browns gave yet another game away

    The Browns' formula when the season started was to play good defense and run the ball; to win conservatively, or at least try to. It was one of those play calls that the Browns have become known for, one that fans wish they could unsee after it unfolds.
    Metal, oil & gas stocks drag Sensex down 152 points

    Metal, oil & gas stocks drag Sensex down 152 points

    All the sectoral indices led by metal, auto and oil & gas were trading in the negative terrain, falling by up to 0.92 per cent. Other laggards included SBI, Bharti Airtel, RIL, Sun Pharma, ONGC, Tata Steel, Tata Motors, Bajaj Auto and Asian Paints.
    McConnell calls on Moore to exit Alabama race

    McConnell calls on Moore to exit Alabama race

    John Thune, a GOP leader, told reporters Republicans are looking into steps to replace Moore if the allegations are true. After Corfman's allegations, three other women also accused Moore of dating them when they were underage.


Popular

Chevrolet Corvette ZR1 is the fastest, most powerful 'Vette yet
Both wings are bolted directly to the chassis just like on a C7.R race vehicle , for strength and stability. Summed up, the 2019 Corvette ZR1 is a beast, and it will be available to purchase next spring.

Week 10 Ups and Downs: Minnesota Vikings at Washington Redskins
Keenum should not struggle too bad against Washington, but he will probably not have a big game Sunday, either. Thielen has 80 yards receiving and one touchdown, and Treadwell catches five passes for 50 yards.

Philippine President Duterte admits stabbing person to death when he was 16
Duterte said in an interview with Esquire that he had stabbed someone to death when he was 17 years old. He even quipped, "I tell the two (Duterte and Trump) to shake hands". " Lay off .

Advocacy group: Fidget spinners sold at Target contain high amounts of lead
Both Target and the manufacturer say the items are still on the shelves because the spinners are not meant to be children's toys . Lead in paint and other surface coatings on children's products, for example, is limited at 90 parts per million.

Portia de Rossi accuses Steven Seagal of sexual harassment
Last week, Julianna Margulies said she was intimidated by Steven Seagal , who showed her a gun in a hotel room. When she arrived Seagal answered the door in wearing only a silk kimono which made her very uncomfortable.

Navya Arma involved in fender bender at Las Vegas debut
The shuttle was performing a test ride with passengers downtown when it was grazed by a delivery truck around noon, the city said. Navya's autonomous electric vehicle shuttle doesn't hit overly high speeds, shuffling along a downtown circuit at around 24km/h.

Twitter stops verification badge amid Jason Kessler backlash
What all this information gets at is, as Twitter sees it, the point of verification: To prove that an account is authentic. Seems like the kind of person Twitter would not want to amplify, but alas no.

Nicki Minaj's Brother Found Guilty Of Sexually Assaulting A Child
Soon after his arrest in 2015, Maraj was released from custody on $100,000 bail, reportedly backed by two of his sister's homes. A scientist stated that a stain on a pair of the pajamas belonging to the young girl was a 1 in 291 billion matches to Maraj .

Hulu Comes to The Nintendo Switch
When the Switch was launched, some criticized Nintendo for not offering access to streaming services like Hulu and Netflix. Hulu arrives to the Nintendo Switch eight months after its release as the hybrid console's first video streaming app.

'Sepp Blatter sexually assaulted me,' says former United States goalkeeper Hope Solo
I didn't get to tell him directly "don't ever touch me". "I speak out directly [with people] when things like that happen". Solo has taken to social media to praise those who have spoken out against sexual harassment using the hashtag #MeToo.