Qualcomm‘s board of directors has unanimously rejected a $105 billion takeover bid from Broadcom , saying the
“Proposal is not in the Best Interests of Shareholders and Dramatically Undervalues Qualcomm”
“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,” Paul Jacobs, Qualcomm’s executive chairman, said in prepared statement.
Many watchers of the industry think the deal would also come significant regulatory issues, as well.
“No company is better positioned in mobile, IoT, automotive, edge computing and networking within the semiconductor industry. 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,” said Steve Mollenkopf, Chief Executive Officer of Qualcomm Incorporated.
If the company did become one,the new massive company would have tech and chips ranging from consumer devices , IoT, appliances, back-end hardware for phone-service providers and even data center hardware.
