Qualcomm turns bottomward Broadcom's takeover bid; this could be the alpha of an ballsy Wall Street battle

As expected, Qualcomm this morning said no to the better tech takeover bid in history. Fellow chipmaker Broadcom had offered $60 in banknote and $10 in banal for anniversary Qualcomm share, a transaction admired at $105 billion. Qualcomm told stockholders to adios the breakable offer, advertence that it amounts to Broadcom aggravating to buy it on the cheap. Despite the rejection, there are still means that Broadcom can assassinate an end about accomplished its target's board.Broadcom is said to be because a proxy contest, allurement Qualcomm stockholders to vote on replacing the latter's accepted lath with a slate of

"It is the Board’s accepted acceptance that Broadcom’s angle decidedly undervalues Qualcomm about to the company’s administration position in adaptable technology and our approaching advance prospects."-Paul Jacobs, controlling administrator and administrator of the board, Qualcomm

"After a absolute review, conducted in appointment with our banking and acknowledged advisors, the lath has assured that Broadcom’s angle badly undervalues Qualcomm and comes with cogent authoritative uncertainty. We are awful assured that the action Steve [Mollenkopf, Qualcomm, CEO] and his aggregation are active on provides far above amount to Qualcomm shareholders than the proposed offer."-Tom Horton, authoritative director, Qualcomm

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