Skip to content

February 9, 2018

Qualcomm rejects Broadcom’s second offer to buy the company

by John_A

Despite increasing its offer by $16 billion, Qualcomm still refuses to sell to Broadcom.

Ever since early November of last year, there have been talks of Broadcom being interested in acquiring chip-maker Qualcomm. The deal was turned down by Qualcomm’s Board of Directors later that same month, but a report quickly followed this up suggesting that Qualcomm would reconsider its decision if Broadcom offered more money.

qualcomm-logo-ces-2018.jpg?itok=yxToWXVa

Broadcom recently came back to Qualcomm with a new offer of $121 billion ($16 billion more than the initial $105 billion), but even so, Qualcomm continued to refuse the deal.

Qualcomm says that the $121 billion “materially undervalues” its worth, and this is essentially the same response the company gave when it rejected Broadcom’s first offer. However, while this is good news for the time being, there’s still the potential that Qualcomm will eventually sell.

It’s reported that Qualcomm is willing to meet with Broadcom to try and get a price that it deems itself to be worthy of, so if Broadcom continues to offer more cash, we may be looking at a buyout.

Stay tuned, folks.

Broadcom buying Qualcomm could grind innovation to a screeching halt

Advertisements
Read more from News

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

Note: HTML is allowed. Your email address will never be published.

Subscribe to comments

%d bloggers like this: