Broadcom Takes Aim at Qualcomm with Unsolicited $130B Bid
Broadcom today made an unsolicited offer to buy Qualcomm for $70 per share, a deal valued at approximately $130 billion. According to Broadcom, the merged entity would be a diverse communications semiconductor company that would be able to accelerate innovation, deliver more advanced products, and create compelling financial savings/efficiencies. Broadcom believes its own portfolio of chips differs enough from Qualcomm's that the two could form a better global competitor. Broadcom said it will pursue Qualcomm whether or not the latter is able to successfully close its in-progress acquisition of NXP. Broadcom plans to move its international headquarters from Singapore to the U.S. in order to facilitate the acquisition and manage the joint entity moving forward. The deal is subject to board agreements, shareholder approval, and government scrutiny. Making an unsolicited offer for a public company effectively puts the target company up for sale, opening up the process to rival bids from other companies. Qualcomm can accept or reject Broadcom's offer, but its board officers are legally bound to find the best deal. Qualcomm's board said it "will assess the proposal in order to pursue the course of action that is in the best interests of Qualcomm shareholders."
Qualcomm Rejects Broadcom's Latest Acquisition Offer, But Leaves Door Open
Feb 8, 2018
Qualcomm's board of directors today unanimously rejected Broadcom's revised bid to acquire the company for $121 billion. Qualcomm's board continues to insist that Broadcom is undervaluing Qualcomm's overall worth.
Qualcomm Says Broadcom's Overtures Not Striking Right Notes
Feb 16, 2018
Qualcomm today said Broadcom's acquisition offer simply isn't good enough as currently proposed. The companies met earlier this week to go over some of the finer points of Broadcom's $121 billion bid to purchase Qualcomm, and Qualcomm still came away leery that the deal won't work out.
HMD Global Trots Out the Nokia 130, an Entry-Level Feature Phone
Jul 17, 2017
HMD Global today announced the Nokia 130, a bar-style handset that runs the Series 30+ platform with basic connectivity apps and a handful of simple games. The handset has a 1.8-inch screen, number pad, 1,020mAh battery, Bluetooth, music player, FM radio, and headphone jack.
Qualcomm Rejects Broadcom's Acquisition Offer
Nov 13, 2017
Qualcomm's board of directors today unanimously rejected Broadcom's Nov. 6 offer to buy the company in a deal that would have been valued at approximately $130 billion.
Broadcom Lowers Offer for Qualcomm, Qualcomm Says No Way
Feb 22, 2018
Broadcom revised its offer to acquire Qualcomm downward by $3 per share after Qualcomm increased its own bid to buy NXP Semiconductors. Broadcom said, "Qualcomm's board acted against the best interests of its stockholders by unilaterally transferring excessive value to NXP's activist stockholders." Broadcom would have preferred to see Qualcomm act together with Broadcom to broker the right deal for NXP while still allowing Broadcom to move forward with its own offer to buy Qualcomm.