"It is the board's unanimous belief that Broadcom's proposal significantly undervalues Qualcomm relative to the company's leadership position in mobile technology and our future growth prospects", said Paul Jacobs, executive chairman and chairman of the board, in a statement.
Qualcomm Chief Executive Steven Mollenkopf has spent the past few days soliciting feedback from Qualcomm shareholders, and feels that Broadcom's $70-per-share bid undervalues the company and does not price in the uncertainty associated with getting the deal approved by regulators, according to the sources.
Qualcomm's board of directors has unanimously voted to reject an acquisition offer from rival chipmaker Broadcom. "We are highly confident that the strategy Steve and his team are executing on provides far superior value to Qualcomm shareholders than the proposed offer", said Tom Horton, Presiding Director for Qualcomm Incorporated. Qualcomm and Broadcom did not immediately respond to requests for comment. Yesterday Reuters suggests it might be considering raising its offer if it were rejected, citing unnamed sources.
The deadline is December 8 for Broadcom to submit a slate of alternative candidates to Qualcomm's 11-member board of directors to push the deal through.
It's interesting to note that Qualcomm didn't just come out and say, "we're not for sale". That could indicate Qualcomm is open to more generous buyout offers, but it's unclear how much more Broadcom would be willing to spend. "Can Broadcom develop a 5G baseband on its own? So, the only option is to look for an acquisition to fill this gap and Qualcomm fits the bill perfectly". Meanwhile, Qualcomm is a larger company than Broadcom is - it earns $23 billion a fiscal year (vs. $16.93 billion earned by Broadcom) and it has 33,800 employees (vs. 15,700 employed by Broadcom).
NXP shares have been trading above Qualcomm's offer price, as many NXP shareholders, including hedge fund Elliott Management Corp, have been holding out for a better price.
Congress passed a resolution in 1926 for an annual observance, and November 11 became a national holiday beginning in 1938. A parade will begin at 10:45 a.m.at the corner of Lincoln Way and Cleveland Street and will proceed down Lincoln Way.
Trump is on a five-country trip through Asia traveling to Japan, South Korea, China, Vietnam, and the Philippines. The flag-waving children who greeted her at the zoo were given stuffed bald eagles. "We did, we did".
Theoretically, the 3GB RAM Nokia 5 can have up to 50 percent more apps running in the background compared to the 2GB variant. Apart from the difference in RAM, all other specifications of the new and old Nokia 5 models are exactly the same.
The sensor, which is about the size of a grain of salt, gets activated when it gets wet from stomach juices. There is no word yet on how much Abilify MyCite will cost, but it is set to roll out sometime next year.
Pacific Fleet's unique ability and ironclad commitment to the continued security and stability of the region". This will be the first time the three USA aircraft carriers will conduct an exercise in the area since 2007.
Security forces taking position with the first round of firing by the militants retaliated leading to the killing of the three. IGP Kashmir zone, Muneer Khan said: "We will ask Pakistan to collect the body of Masood Azhar's nephew as JeM has owned it".
He was signed by Alex Ferguson at United in 2004, and went on to play for Leeds , Sunderland , Queens Park Rangers and Hibernian. Fellow former United player Danny Higginbotham said: "If true very sad news about one of my former teammates Liam Miller ".
Software company Niantic Labs is basing this new game on the universe of Harry Potter , an equally massive cultural obsession. Niantic had previously attempted to popularise AR with Ingress , a location-based sci-fi game released in 2012.
With those numbers, not Black Friday, Cyber Monday or Valentine's Day, can compete with Singles' Day as of yet. Singles' Day, then, appears to be celebrating a marriage after all-one of cyberspace and reality.
The trial is the latest in several measures Facebook has taken to clamp down on the sharing of revenge porn . Let's say you have a spiteful ex who decides to embarrass you by posting a nude photo made in private.
France pip South Africa to stage 2023 Rugby World Cup
Last month, South Africa had been recommended to host the tournament , after an independent review of each host candidate's bid. Unfortunately, the disappointing thing was that Scotland and Wales didn't support us.
GI tag says West Bengal is where the 'rosogolla' originated
The GI tag was primarily developed with the objective of recognising the unique identity connecting different products and places. The Geographical Indications (GI) registry on Tuesday announced that the rosogolla originated in West Bengal and not in Odisha.
Idea Cellular Reports Net Loss of Rs 1107 Crore in Q2
Further, SG&A associated with the assets is expected to be less than Rs 1 billion (approximately $10 million) for the first year. The Idea-Vodafone merger will create the world's second-largest and India's largest telecom firm, overtaking Bharti Airtel Ltd.
Hulu Comes To Nintendo Switch Today
Hulu has a vast library of TV shows and movies, plus live and On Demand channels like Fox, ABC, NBC, CBS, and more. It looks like the Switch is coming at the center of entertainment with few more apps like Netflix and Amazon.
Green Bay Packers: Packers release TE Martellus Bennett
The Packers could go after the prorated amount of that signing bonus, $4.2 million. "I am part of the conversation". Bennett's production in the seven games he did play was modest: 24 catches for 233 yards and no touchdowns.
USA aircraft carriers to conduct joint drill in Pacific
Addressing the North Korea crisis, the US President tweeted: "NoKo has interpreted America's past restraint as weakness". Trump also noted that the three US aircraft carriers "are appropriately positioned" near the Korean Peninsula.
Walmart to Offer Black Friday Deals Early on Its Website
Target says its stores will be open from 6 p.m.to midnight on Thanksgiving, and they will reopen at 6 a.m. on Black Friday. Most Kmart stores will be open from 6 a.m. -10 p.m. on Thanksgiving, before reopening at 6 a.m. on Black Friday.