Qualcomm rejects Broadcom's acquisition offer

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As per its promise, today Qualcomm submits its decision to Broadcom's second-ever $ 121 billion acquisition bid filed on Tuesday, February 6, 2018.

In a letter made by Chairman of the Board Qualcomm Paul E. Jacobs told Broadcom that they rejected the acquisition offer from Broadcom. However, this time Qualcomm still intend to talk to the Broadcom.

If in last November Qualcomm firmly rejected the first offer of Broadcom, now through his letter Qualcomm still want to meet to discuss this.

Qualcomm's board of directors in the letter mentioned that assessing Broadcom's offer is still below the value that is owned by Qualcomm. In an offer filed yesterday the value of Qualcomm's shares was promised to rise to US $ 82 per share from US $ 70 per share filed in November.

Qualcomm assesses that the company has a much greater value than the offer, let alone the company is trying to acquire NXP Semiconductors.

Jacobs mentioned several points to be discussed in the meeting later, first is about the value offered can be higher again or not, and the second step is what will be done when acquired Qualcomm Broadcom.

There is currently no official response from Broadcom regarding Qualcomm's request but with the offer of acquisitions made up to two times clearly seen Broadcom is eager to master Qualcomm.

As it was known last November Broadcom suddenly proposed the acquisition to Qualcomm while Qualcomm itself is trying to acquire other competitors namely NXP Semiconductors.