Communications & Networking | San Diego, CA | Corporate Acquisition
Qualcomm has rejected Broadcom's proposed takeover bid. At an enterprise value of $130 billion, it would be the largest acquisition in tech history. Qualcomm's board has found that Broadcom's offer undervalues the chipmaker. At $70 per share, the offer represents a 28% premium to Qualcomm's close price on November 2, its last trading day prior to media speculation about the deal. Broadcom has said it remains committed to picking up Qualcomm (NASDAQ: QCOM), which gained 3% Monday.