qualcomm spurns 130 bn broadcom bid
Last Updated : GMT 18:07:55
Arab Today, arab today
Arab Today, arab today

for big tech tie-up

Qualcomm spurns $130 bn Broadcom bid

Arab Today, arab today

Arab Today, arab today Qualcomm spurns $130 bn Broadcom bid

A merger of Qualcomm and Singapore-based Broadcom would consolidate two major players.
Washington - Arab Today

Semiconductor giant Qualcomm on Monday rejected a $130 billion bid from fellow chip maker Broadcom which could represent the biggest-ever takeover in the tech sector.

Singapore-based Broadcom made the offer last week in a deal that would consolidate two major players in the booming sector fueled by growth in smartphones and other connected devices.

The 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 a statement.

Steve Mollenkopf, Qualcomm's chief executive, said the California company remains confident about its future.

"No company is better positioned in mobile, IoT (internet of things), automotive, edge computing and networking within the semiconductor industry," he said.

"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," he said, referring to the fifth generation wireless networks in the works.

Broadcom responded to the announcement by saying it "remains fully committed" to the planned tie-up.

- 'Engage cooperatively' -

Broadcom CEO Hock Tan said the deal would create "a strong, global company with an impressive portfolio of industry-leading technologies and products."

Tan noted that "we have received positive feedback from key customers about this combination" and added that "we continue to believe our proposal represents the most attractive, value-enhancing alternative available to Qualcomm stockholders."

While Tan did not specifically address whether Broadcom would make a hostile bid, he said, "It remains our strong preference to engage cooperatively with Qualcomm's board of directors and management team."

Broadcom could sweeten its bid in an effort to win over management or launch a hostile takeover effort to persuade shareholders to sell or install new board or management members.

Any merger deal would need to pass muster with Qualcomm shareholders and could face regulatory scrutiny in the United States and other markets.

Qualcomm shares rose one percent to $65.35 while Broadcom fell nearly one percent to $262.84 on the news.

Qualcomm has been facing a series of investigations around the world linked to its dominance in the smartphone chip segment.

Broadcom's proposal followed Tan's visit to the White House this month, where he met President Donald Trump and announced plans to move the tech company back to the United States from Singapore.

It comes as Qualcomm seeks a $47 billion acquisition of Dutch rival NXP, a deal that is the subject of a European Union anti-trust probe.

A merger with Broadcom would create a behemoth with about $51 billion in revenues, including those from NXP.

Broadcom, meanwhile, is seeking to buy US rival Brocade Communications in a deal being reviewed by Washington.

Broadcom and Qualcomm are both major makers of semiconductors used in the latest tech gadgetry.

The US firm is the leader in processors for smartphones and is expanding into new sectors, while Broadcom makes an array of chips for wireless communications, set-top boxes and electronic displays.

Source: AFP

arabstoday
arabstoday

GMT 11:14 2017 Sunday ,15 October

US moves closer to EU position

GMT 15:04 2017 Sunday ,08 October

Bracing for next wave of technology

GMT 15:21 2017 Friday ,15 September

Iran relaunches space ambitions

GMT 23:52 2017 Sunday ,03 September

Record-breaking NASA astronaut comes back

GMT 10:05 2017 Friday ,07 April

Bezos sells $1bn in Amazon stock yearly
Arab Today, arab today
Arab Today, arab today

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

qualcomm spurns 130 bn broadcom bid qualcomm spurns 130 bn broadcom bid

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

qualcomm spurns 130 bn broadcom bid qualcomm spurns 130 bn broadcom bid

 



Arab Today, arab today
Arab Today, arab today Jordanian woman reveals her project

GMT 00:46 2017 Saturday ,11 November

Jordanian woman reveals her project
Arab Today, arab today PNG police start removing refugees

GMT 03:00 2017 Friday ,24 November

PNG police start removing refugees
Arab Today, arab today Sophian Yussef reveals suitable decoration

GMT 02:56 2017 Thursday ,23 November

Sophian Yussef reveals suitable decoration
Arab Today, arab today Syria congress to go ahead

GMT 02:24 2017 Friday ,24 November

Syria congress to go ahead
Arab Today, arab today IS media offline for a day

GMT 02:10 2017 Friday ,24 November

IS media offline for a day
Arab Today, arab today Rahma create winter clothes in innovative way

GMT 20:28 2017 Tuesday ,07 November

Rahma create winter clothes in innovative way
Arab Today, arab today Air China suspends flights to North Korea

GMT 10:39 2017 Thursday ,23 November

Air China suspends flights to North Korea
Arab Today, arab today Keep kids busy at Thanksgiving gatherings

GMT 11:14 2017 Friday ,10 November

Keep kids busy at Thanksgiving gatherings
Arab Today, arab today Syria opposition meets in Riyadh

GMT 06:23 2017 Thursday ,23 November

Syria opposition meets in Riyadh
Arab Today, arab today Jordanian journalist happy of her career

GMT 17:37 2017 Thursday ,23 November

Jordanian journalist happy of her career
Arab Today, arab today Human form of 'mad cow' disease

GMT 00:11 2017 Friday ,24 November

Human form of 'mad cow' disease
Arab Today, arab today British woman jailed in Iran to appear

GMT 03:19 2017 Friday ,24 November

British woman jailed in Iran to appear
Arab Today, arab today Delhi half-marathon to go ahead

GMT 03:51 2017 Saturday ,18 November

Delhi half-marathon to go ahead
Arab Today, arab today The history of solar eclipses

GMT 05:16 2017 Sunday ,20 August

The history of solar eclipses
Arab Today, arab today Mitsubishi Materials units falsified product

GMT 03:24 2017 Friday ,24 November

Mitsubishi Materials units falsified product
Arab Today, arab today 'Robo-taxis' hold promise, and perils

GMT 08:07 2017 Thursday ,23 November

'Robo-taxis' hold promise, and perils
Arab Today, arab today Solaf happy for participating in “Hotline”

GMT 07:56 2017 Wednesday ,22 November

Solaf happy for participating in “Hotline”
Arab Today, arab today paObama climate envoy slams Trump's rejection

GMT 16:04 2017 Friday ,17 November

paObama climate envoy slams Trump's rejection

GMT 08:03 2017 Tuesday ,21 November

Abeer Sabry reveals reason of “The Flood” success

GMT 07:56 2017 Monday ,20 November

Singer Jahda Wahba has unlimited ambitions

GMT 08:03 2017 Thursday ,23 November

Srebrenica women cry tears of joy

GMT 02:14 2017 Saturday ,18 November

May under Brexit pressure at EU reform summit

GMT 18:41 2017 Friday ,20 October

Designer Aql Faqih aspires to innovation

GMT 12:59 2017 Thursday ,19 October

Arab tradition glitters in Colombia

GMT 11:38 2017 Wednesday ,15 November

Unloved vultures fight for their survival

GMT 13:40 2017 Monday ,13 November

Pollution spikes in Delhi amid warnings

GMT 17:52 2017 Sunday ,03 September

Etiquette expert underlines importance of gifts

GMT 11:49 2017 Thursday ,17 August

Egyptian artist presents new collection of designs

GMT 09:12 2017 Thursday ,23 November

4 in 10 cancers due to modifiable risk

GMT 10:43 2017 Wednesday ,22 November

Cigar-shaped asteroid came

GMT 10:47 2017 Wednesday ,22 November

The Big Apple bike boom

GMT 09:45 2017 Tuesday ,21 November

Visit Jamaica for more than just sun

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 13:38 2017 Monday ,06 March

Prepares to give stargazers an eyeful

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday