no path to value in broadcom tieup
Last Updated : GMT 09:40:38
Themuslimchronicle, themuslimchronicle
Themuslimchronicle, themuslimchronicle
Last Updated : GMT 09:40:38
Themuslimchronicle, themuslimchronicle

Qualcomm chief executive Steve Mollenkopf

'no path to value' in Broadcom tie-up

Themuslimchronicle, themuslimchronicle

Themuslimchronicle, themuslimchronicle'no path to value' in Broadcom tie-up

Steve Mollenkopf, CEO of Qualcomm
Washington - Muslimchronicle

Qualcomm chief executive Steve Mollenkopf on Thursday reaffirmed his opposition to a hostile takeover bid from computer chip rival Broadcom, saying the deal offers "no real path to value."

The comments came days after Singapore-based Broadcom escalated its efforts on a $130 billion bid by proposing a slate of directors to unseat the Qualcomm board of directors.

Mollenkopf, speaking at an event hosted by The Economic Club of Washington, said that "we always have discussions" on potential tie-ups but that Qualcomm's future is well-positioned as an independent company.

He added that "we didn't think the offer was in the ballpark of value," and that "there is a lot of uncertainty" on whether the merger -- which would be the largest ever in the technology sector -- could pass regulatory muster.

"There's no real path to value that we see in terms of offers now in terms of an alternative" to remaining independent, he said.

Mollenkopf maintained that Qualcomm, the leading global supplier of smartphone chips, is well-positioned for emerging technologies for connected devices and 5G, or the fifth generation of wireless networks.

"We're probably the best positioned company for 5G and the connected world," he said.

He noted that the company is "in a momentary spot where our revenue is a little difficult to model" because of a series of legal disputes, including with Apple, but predicted that "those will get resolved."

Broadcom's announcement on Monday sets the stage for a fight at the Qualcomm shareholder's meeting in March, by proposing a slate of directors likely to press for the merger or replace management.Mollenkopf also said he expects Qualcomm to finalize later the year or early in 2018 a $47 billion acquisition of Dutch rival NXP, a deal that is the subject of a European Union anti-trust probe.

If completed the deal would be the largest-ever in the tech sector and create a powerful player in the booming sector fueled by growth in smartphones and an array of connected devices from cars to wearables.

Any merger deal would need to pass muster with Qualcomm shareholders and could face regulatory scrutiny in the United States and other markets.

Broadcom's November 6 proposal followed a visit by its CEO Hock Tan to the White House, where he met President Donald Trump and announced plans to move the tech company back to the United States from Singapore.

source: AFP

themuslimchronicle
themuslimchronicle

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

no path to value in broadcom tieup no path to value in broadcom tieup

 



Themuslimchronicle, themuslimchronicle

GMT 06:40 2017 Saturday ,16 December

Walker needs brains not just brawn

GMT 08:15 2017 Thursday ,07 September

US oil giant ExxonMobil plans Cyprus gas exploration

GMT 18:11 2011 Monday ,18 April

Zimbabwe and Zambia in tug of war over Vic Falls

GMT 16:05 2017 Tuesday ,31 October

Qadih calls for involving private sector

GMT 09:20 2017 Wednesday ,15 November

Qualcomm spurns $130 bn Broadcom bid for big tech tie-up

GMT 13:43 2017 Tuesday ,24 October

Stabbed Russian journalist 'in recovery'

GMT 10:26 2017 Friday ,14 April

Sock topples Haas to reach ATP Houston quarters

GMT 14:00 2017 Saturday ,25 November

Sudan condemns terrorist attack in Egypt

GMT 09:40 2017 Monday ,04 December

Stade down Racing, Clermont edge plucky Agen

GMT 08:08 2017 Thursday ,05 October

Injury jinx strikes again as Iordache exits

GMT 11:20 2017 Tuesday ,05 December

Prodigal son: Saleh Saudi overture tips Yemen balance

GMT 09:35 2013 Saturday ,31 August

Afghan suicide attack kills 6, hurts 20 in south

GMT 23:36 2016 Sunday ,11 December

Suicide attack in Istanbul claims 29 lives

GMT 18:29 2013 Sunday ,10 November

Samsung\'s Galaxy Note 3 top 5m

GMT 14:52 2013 Sunday ,24 November

Computer game opponents begin to think, feel alike

GMT 18:55 2012 Wednesday ,02 May

8 Secret guy insecurities

GMT 19:27 2012 Thursday ,10 May

How to win over your boss

GMT 18:27 2012 Sunday ,29 April

Why I\'m better off without a baby

GMT 13:40 2012 Friday ,25 May

Sharnoubi to make documentary on singer Warda

GMT 12:58 2014 Friday ,28 November

Incredibly small apartment in Paris

GMT 00:44 2011 Sunday ,25 December

Modern glass house

GMT 10:51 2011 Tuesday ,05 July

Dior loses its way without creative director
Themuslimchronicle, themuslimchronicle
Themuslimchronicle, themuslimchronicle
 
 Themuslimchronicle Facebook,themuslimchronicle facebook  Themuslimchronicle Twitter,themuslimchronicle twitter Themuslimchronicle Rss,themuslimchronicle rss  Themuslimchronicle Youtube,themuslimchronicle youtube  Themuslimchronicle Youtube,themuslimchronicle youtube

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2023 ©

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2023 ©

muslimchronicle muslimchronicle muslimchronicle muslimchronicle
themuslimchronicle themuslimchronicle themuslimchronicle
themuslimchronicle
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
themuslimchronicle, themuslimchronicle, themuslimchronicle