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All posts tagged "broadcom"

  • White House blocks Broadcom, Qualcomm takeover attempt

    It looks like Broadcom's lengthy bid to acquire US chipmaker Qualcomm is finally over, after the White House announced that it has blocked the takeover attempt. The White House noted that a Broadcom-owned Qualcomm "might take action that threatens to impair the national security of the United States". Furthermore, US President Donald Trump noted that the law doesn't provide "adequate and appropriate authority" for him to protect national security in this issue. As a result, any possible deal has simply been blocked. "The proposed takeover of Qualcomm by the Purchaser is prohibited, and any substantially equivalent merger, acquisition, or takeover, whether effected...

  • Qualcomm, Broadcom meeting yields no results on ‘final’ offer

    Earlier this month saw Broadcom make a "best and final" offer to acquire Qualcomm -- an offer that was rejected. But Qualcomm opened the door for a 14 February meeting to discuss further options, so what was the result of that? The US chipmaker delivered a letter to Broadcom (publishing it on their website), giving their thoughts on the 14 February meeting. For one, Qualcomm remains unmoved on its assertion that the US$82 per share price "undervalues" the firm. Qualcomm's letter to Broadcom "In our February 14 meeting, Broadcom reiterated that $82.00 per share is its best and final proposal.  The Board...

  • Qualcomm rejects ‘final’ Broadcom offer, but is deal actually off?

    Qualcomm's board of directors have unanimously rejected a 'best and final' acquisition offer from fellow chipmaker Broadcom. The US$121-billion offer saw Qualcomm shares valued at US$82 per share, comprised of US$60 in cash and US$22 in Broadcom shares. "The Qualcomm board, assisted by its financial and legal advisors, determined that the Broadcom proposal materially undervalues Qualcomm and falls well short of the firm regulatory commitment the board would demand given the significant downside risk of a failed transaction," read an excerpt of a Qualcomm news release. The board hasn't completely shut down a possible deal though, saying it was "committed to exploring all...

  • Broadcom now offers ‘best and final’ offer to Qualcomm

    Silicon company Broadcom has upped its offer to fellow chipmaker Qualcomm, with the offer valued between US$120-billion and US$146-billion. The move sees Broadcom offer US$82 per share for Qualcomm, being US$60 in cash and the rest in Broadcom shares. "The significantly improved offer, which has been unanimously approved by the Board of Directors of Broadcom, represents a 50% premium over the closing price of Qualcomm common stock on 2 November 2017, the last unaffected trading day prior to media speculation regarding a potential transaction, and a premium of 56% to Qualcomm's unaffected 30-day volume-weighted average price," the interested buyer wrote in a press release. The offer is...

  • Here’s why Broadcom takeover shouldn’t go ahead – Qualcomm

    Qualcomm was in the headlines late last year after fellow chip colossus Broadcom announced its desire to purchase the chipmaker. The overture was rebuffed, which has since resulted in Broadcom setting the wheels in motion for a hostile takeover bid. Now, Qualcomm has issued an open letter to shareholders, outlining several reasons why they should reject Broadcom's takeover attempt and re-elect the current board. "Broadcom is asking Qualcomm stockholders to voluntarily transfer to a hostile acquirer the considerable near- and long-term value creation Qualcomm has in front of it," an excerpt of the letter reads. "It is attempting to acquire Qualcomm at...

  • Qualcomm rejects $130bn Broadcom offer, Broadcom poised to go hostile

    Last week saw the possibility of one of the largest tech acquisitions ever, when Broadcom made a massive offer for Qualcomm -- a deal which would've been valued at US$130-billion. The unsolicited offer set the tech world alight, as a successful deal would've resulted in an even bigger, combined silicon juggernaut. Yesterday, the US mobile tech firm has revealed its decision: a unanimous rejection by the board of directors. "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 Paul Jacobs, executive chairman and chairman of the board...

  • It’s official: Broadcom makes $130bn offer for Qualcomm

    A short time ago, it was reported that Broadcom was putting together a rather substantial offer for Qualcomm. It was claimed that the deal would be valued at just over US$100-billion. Now, Broadcom has made its offer official, valuing the transaction at just over US$130-billion. The cash and stock offer stands regardless of whether Qualcomm's US$47-billion deal to acquire NXP is successful or not, the wireless chipmaker claimed in a press statement. The proposal would see Qualcomm acquired at US$70 a share. "Under Broadcom's proposal, the US$70 per share to be received by Qualcomm stockholders would consist of $60 in cash and $10 per share in Broadcom shares," the company...

  • Broadcom in talks to buy Qualcomm for $100bn – report

    The past 18 months has seen chip designer ARM being acquired by Softbank for US$31-billion, but it looks like another colossal silicon deal is in the works. Yes, it seems like Broadcom is expected to make a huge offer for Qualcomm. According to Reuters, citing three sources "familiar with the matter", Broadcom is set to announce a US$100-billion offer to buy the chip maker on Monday. The publication says that, if successful, the deal would be the biggest tech acquisition ever and would deliver a company with a market cap of roughly $200-billion. Still, a source said it's "far from certain" whether Qualcomm...