Last month, Broadcom offered a $ 70 acquisition price per share, but was rejected, Broadcom said it will stick with the price and hope the two sides can negotiate. Molencopf argues that current bids can not be negotiated. Broadcom also proposed to replace Qualcomm board members, exert pressure to facilitate the transaction.
Molenkopf said: "We think the current offer is unacceptable and far from it, and of course it is my personal opinion and everything else is going to be decided by the board of directors."
If Broadcom really completes the acquisition, the deal will be the largest transaction ever in the tech industry. This is the first time Qualcomm CEO talked about the tender offer in public. Moronkopf believes that Qualcomm is confident in the future that he can stick to the direction of independent development and be able to solve the legal issues that threaten authorized businesses. Qualcomm is the world's largest mobile phone chip maker.
Moronkopf added that Qualcomm and Broadcom were discussing the merger last year, but no progress was made. He added: "We've negotiated before, and the semiconductor industry is undergoing consolidation and we've been talking to each other all the time." (Dirk)