USA chipmaker Qualcomm Inc (QCOM.O) is making preparations to reject rival Broadcom Ltd's (AVGO.O) $103 billion bid as early as this week, four people familiar with the matter said on Sunday, setting the stage for one of the biggest-ever takeover battles.
In a statement Monday, Qualcomm's board said the offer, which Broadcom submitted last week, dramatically undervalues the company and comes with significant regulatory uncertainty.
The source said Qualcomm's board of directors could huddle up on Sunday to examine the unsolicited acquisition bid and think of its strategy.
Meanwhile, Qualcomm is trying to acquire NXP for $38 billion but NXPs shareholders are reluctant.
Broadcom, meanwhile, is seeking to buy USA rival Brocade Communications in a deal being reviewed by Washington.
Qualcomm's stock climbed 1.2% in premarket trading, while Broadcom declined 0.6%.
Qualcomm has been facing a series of investigations around the world linked to its dominance in the smartphone chip segment.
"It is the Board's unanimous belief that Broadcom's proposal significantly undervalues Qualcomm relative to the Company's leadership position in mobile technology and our future growth prospects", said Qualcomm executive chairman and chairman of the board Paul Jacobs in a statement today. It's also a timely bid Qualcomm, whose earnings this year have been hurt by a global legal fight with Apple over its licensing fees for patents.
Alabama, Clemson, Georgia, Notre Dame aides on Broyles list These two games also feature two Heisman Trophy contenders in Adams for Notre Dame and quarterback Baker Mayfield for Oklahoma. No. 12 Michigan State at No. 13 Ohio State; No. 20 Iowa at No. 8 Wisconsin; and No. 2 Alabama at No. 16 Mississippi State .
On Monday, Qualcomm's (qcom) shares were up to nearly $66, though still below the $70 bid. A combination with Broadcom would not have propelled it past industry leaders Intel and Samsung.
After getting an on-the-record rejection of its buyout bid for Qualcomm (NASDAQ:QCOM), Broadcom (NASDAQ:AVGO) says it's still "fully committed" to the deal.
In its latest earnings call with analysts, Qualcomm CEO Steve Mollenkopf said the company aimed to close the NXP deal by the end of the year but it could slip until next year. Broadcom is reportedly prepared to up its offer somewhat from its current level, although it's unclear how much higher they might be willing to go.
The FAA confirmed to NBC Charlotte that Dandan's access to the airport was terminated following his arrest Friday afternoon. Officers with the CMPD's bomb squad later confirmed that the explosive device in question was a homemade pipe bomb.
A good method of evaluating a public company's profitability is by taking a look at its Earnings per Share (EPS) performance. What Does Wall Street Say about Company? The stock has a consensus rating of "Hold" and an average target price of $5.06.
Harris' congressional office referred questions to his campaign, which did not respond to multiple requests for comment. Reynolds supports Moore and says if the candidate steps down now, that would mean surrendering to Democrat Doug Jones .
The two worlds will only be visible for a short time before sunrise and won't climb more than about 7 degrees above the horizon. Observers will have to have an uninterrupted view to the south-east as the planets will be very low in the sky .
Ray III briefly represented the mother and testified that he did demand $25 million from Maraj after he was arrested. Maraj , 38, was on trial for raping an 11-year-old girl on multiple occasions at his Long Island home.
Goodell suspended Elliott in August after a yearlong National Football League investigation. Jerry Jones opposes the contract extension being negotiated with Roger Goodell .
Corvette ZR1 Will Be Fastest and Most Powerful of Its Kind
Both of the rear wings are attached to the car's chassis - something Chevrolet claims will increase strength and stability. Powered by an LT5 supercharged V8, the ZR1 will produce a staggering 755 horsepower and 715 lb. -ft. of torque.
Canada's Trudeau says still more work to be done on TPP
But this time, the Canadian prime minister had a somewhat atypical agenda for his face-to-face chat with the Mexican president. It was a stark change in tone from Thursday, when Trump was Xi's guest of honor during a state visit in Beijing.
Rupert Murdoch Called AT&T's CEO Twice About CNN Sale
The deal is opposed by an array of rivals and consumer groups anxious that it would give the combined company too much power. AT&T may choose to force the DOJ's hand by moving to close the deal, which could trigger a court fight.