Chip maker Qualcomm rejects $130 bn Broadcom merger bid
Semiconductor giant Qualcomm
Washington - Muslimchronicle
Semiconductor giant Qualcomm on Monday said it rejected the $130 billion unsolicited merger bid from fellow chip maker Broadcom.
Qualcomm's board unanimously rejected the bid which CEO Paul Jacobs said "significantly undervalues" his company's position and growth prospects.
Singapore-based Broadcom made the offer last week in what would have consolidated two major players in the booming sector fueled by growth in smartphones and other connected devices.
source: AFP
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