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.
Wisconsin Still on Track to Harvest Record Soybean Acreage USDA surprised many with the crop production forecast out this month estimating a two percent increase from last month for corn . But an estimated 2.14 million acres will be run through the combines in 2017-breaking the previous record set a year ago .
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.
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.
Will Smiths loans $5 million Tyrese is really on some shit ever since getting into this whole beef with The Rock , but now we can see that there's much more to it.
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.
Via Facebook, Ellen DeGeneres's wife shared a unusual and disturbing encounter she had with the martial artist. The then ran from the office and called her agent, who apparently seemed aware of what might happen.
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.
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.
The latest Nintendo console is on course to have outsold the Wii by March 2023 according to market analyst firm Nomura Securities. So far, we have not heard a peep about YouTube or Netflix coming to Switch , but today Nintendo slipped us a tiny morsel of hope.
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.
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 .
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.
The federation also adopted several recommendations by Deborah Daniels, a former federal prosecutor who oversaw the review. Raisman said she spoke to FBI investigators after serving as national team captain at the 2016 Games in Rio de Janeiro.
Twitter suspends blue check mark verifications
If you want to have your Twitter account verified , the first thing to do is to submit a request. Do U think this blue check is warranted?? "Working now to fix faster", tweeted CEO Jack Dorsey .
Republicans must turn their backs on Roy Moore
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 .