Qualcomm (Presiding Director) presided over the board of Tom Horton (Tom Horton) said: "the board of directors and management for the company to focus on shareholder value creation. In the financial and legal counsel, after a comprehensive assessment, the Board agreed that Broadcom seriously underestimated the value of the high price"
On Monday, Broadcom proposed to add 70 dollars per share in cash plusstockWay acquisition of Qualcomm, the total transaction value of 130 billion US dollars. If the deal is completed, it will become the biggest M & A deal in the semiconductor industry ever.
Earlier there was informed sources said Qualcomm is expected to strongly boycott Broadcom's acquisition plan. The source said Qualcomm will reject Broadcom from two factors. First of all, Qualcomm will claim Broadcom's offer is too low. Second, Qualcomm will use antitrust investigations as an excuse.