Qualcomm rejects Broadcom’s revised buyout offer

Last week Broadcom made its final offer to acquire Qualcomm at a value of $121 Billion, which is $82 per share which consist of $60.00 in cash and $22.00 per share in Broadcom  stocks. Qualcomm today announced that its Board of Directors unanimously rejected the unsolicited proposal by Broadcom. This comes after the first offer that was made by Broadcom got rejected by Qualcomm back in November and in December it rejected directors nominated by Broadcom to replace the Qualcomm's existing board of directors. Broadcom says that the proposal materially undervalues Qualcomm and falls well short of the firm regulatory commitment the Board would demand given the significant downside risk of a failed transaction. Qualcomm said that it would like to meet Broadcom to see if it can address the serious deficiencies in value and certainty in its proposal. In a letter to Hock Tan, President and Chief Executive Officer, Broadcom Limited, Qualcomm Board, said: The Board has unanimously determined that your amended offer materially undervalues Qualcomm and falls well short of the firm regulatory commitment the Board would demand given the significant downside risk of a failed transaction. However, the Board is committed to exploring all options for maximizing shareholder value, and so we would be prepared to meet with you to allow you to explain how you ...