Qualcomm Says It Met with Broadcom to Discuss Acquisition
Qualcomm today said members of its board of directors and senior management met with Broadcom to talk about the latter's acquisition offer. Broadcom offered to buy Qualcomm for $121 billion, but Qualcomm shot the deal down. "We met with representatives of Broadcom for two hours earlier today, and listened carefully to what they had to say. The Qualcomm Board will promptly meet to discuss the meeting and to determine next steps," said Qualcomm in a statement. Earlier this week, Qualcomm said Broadcom's offer undervalued Qualcomm. Moreover, Qualcomm isn't confident Broadcom is fully prepared to see the acquisition through the regulatory process. Today's meeting was to assess if there is any common ground to be met in the deal.
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.
Dec 4, 2017
Broadcom today suggested Qualcomm's shareholders elect an entirely new board of directors during the latter's planned annual shareholder meeting on March 6, 2018. Broadcom took the opportunity to nominate 11 people to replace Qualcomm's board.
Dec 22, 2017
Qualcomm today said it won't entertain the idea of replacing its board of directors with substitutes nominated by Broadcom. Earlier this month, Broadcom nominated 11 people to Qualcomm's board of directors.