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Qualcomm rejects Broadcom's revised takeover bid

From Engadget - February 8, 2018

Broadcom will have to try again in its bid to take over Qualcomm. The Snapdragon chip-maker has rejected a revised proposal to buy all of its outstanding shares, stating that it "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." As a refresher, Broadcom had originally offered to pay $130 billion to acquire all of Qualcomm back in November. That sum was rejected, so Broadcom followed up this month with a revised proposal that valued Qualcomm's shares at $82 each.

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