Qualcomm Says Two Big Buyers Likely to Bail Over Broadcom Tie-Up
Qualcomm warned investors that two of its most important customers have threatened to take their business elsewhere should Qualcomm be acquired by Broadcom. Qualcomm didn't name the customers, but said together they contribute a combined $1 billion in chip revenue. Qualcomm's most important customers are Apple and Samsung, followed by Huawei, LG, Sony, Oppo, and Xiaomi. The customers in question cited a lack of confidence in Broadcom's ability to lead a combined Qualcomm-Broadcom entity as the impetus for their decisions. Broadcom made a second offer for Qualcomm this week, but Qualcomm's board rejected it. The two companies will, however, meet over the next few days to discuss the possibilities of a merger. Some of the biggest questions Qualcomm wants answered concern how much more is Broadcom willing to spend on the acquisition, and what will it do to ensure the deal is completed successfully. Qualcomm is also worried about antitrust issues, and pointed to several big deals that have taken more than 18 months to clear regulatory hurdles. Broadcom has offered to pay Qualcomm $8 billion should the merger fail to be approved.
May 11, 2018
Coolpad's China-based business has sued Xiaomi for violating its patented technology. Coolpad Group's Yulong Computer Telecommunications Scientific business unit filed lawsuits against three Xiaomi entities: Xiaomi Telecom Technology, Xiaomi Technology, and Xiaomi Factory.
Dec 12, 2018
Canada has released Meng Wanzhou, Huawei's CFO, after her lawyers convinced a judge to grant bail. Meng was arrested in Vancouver on December 1 at the behest of the U.S.
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.
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.