"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", Qualcomm executive chairman Paul Jacobs said in a press release. Its own board similarly thinks that the offer undervalues the company and NXPs shares were trading above Qualcomms offer.
Qualcomm, the largest chip maker for mobile devices, has rejected the $130 billion acquisition proposal of Broadcom saying no one is better than it to lead the mobile devices ecosystem.
Qualcomm CEO Steve Mollenkopf added that the U.S. chip maker has a future in mobile, the Internet of Things (IoT), edge computing and networking within the semiconductor industry, and the firm has no doubt of future growth in these areas. "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.
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 not clear how Broadcom will respond.
It's interesting to note that Qualcomm didn't just come out and say, "we're not for sale". So while turning down a huge offer like that seems insane, the company really is probably worth more than what Broadcom was offering.
In Entwistle's view were Qualcomm to accept the acquisition offer it would increase its dependence on the smartphone market - at a time when it has been working to expand beyond smartphones, such as via a long-in-the-works acquisition of chipmaker NXP, which has a focus on car-related applications, security-based identification and IoT.
"Qualcomm's "thanks, but no thanks" response to the unsolicited bid by Broadcom isn't surprising and we would be surprised if at this point, Broadcom didn't move forward with a proxy fight", Loop Capital analyst Betsy Van Hees told Reuters.
Photos and videos of extensive damage in both Iran and Iraq poured in on social media shortly after the natural disaster . At least six people were killed in the western Iranian town of Qasr-e Shirin, Iran television said.
Chief minister N Chandrababu Naidu expressed shock over the incident and directed the authorities to intensify rescue operations. The Andhra Pradesh Tourism Department has given permission for private agencies to operate boats to Bhavani Island regularly.
PowerPass lets you choose a game from GameStop's preowned library, take it home then swap it for something else when you're done. Polygon has emailed a GameStop representative for more information on what that entails.
Xenoblade Chronicles 2 will launch exclusively for the Nintendo Switch system on December 1 at a suggested retail price of $59.99. These humanoid weapons boost Drivers' power in battles in many different ways, depending on the Blades' unique abilities.
Houston Texans rookie quarterback Deshaun Watson was on his way to breaking all the rookie quarterback records in the NFL . Watson previously suffered a torn ACL late in the 2014 season after an exceptional freshman year.
In 2011, 19 percent of American companies imposed financial penalties on employees who smoke , according to The New York Times . In Japan, while smoking is allowed in restaurants and bars without any designated smoking area, it is banned on the streets.
She says she had been drinking and was in no state to have consensual sex. "This is what we're moving forward with", he said. Weinstein has not commented on the latest allegations, but has repeatedly denied accusations of non-consensual sex.
Meanwhile, in all the premises where searches were conducted, Tamil Nadu police provided security to I-T department officials. Correspondingly, Namadhu MGR is also under the effective control of Sasikala and her community.
At Kool Smiles, " Operation Troop Treats " is underway, encouraging kids to donate their candy to then be given to USA troops. Now that Halloween is behind us, some parents may wonder what they should do with their kids leftover candy.
Last year's decider, played exactly a year before this encounter, will either galvanise or haunt the incumbent Black Caps. After the ODI series, the two teams will be locked in a three-match T20I series.
Swallow Your Digital Pill
It's aimed at people who are being treated for schizophrenia and as an add-on treatment for adults suffering with depression . The drug was made in collaboration with Otsuka Pharmaceutical and Proteus Digital Health, which designed the sensor.
Ceremonies held around the Metro to honor Veterans
At 11 a.m., the 16th annual Elk Grove Veterans Day Parade will proceed south on Elk Grove Florin Road to Elk Grove Regional Park. This year's parade route begins at the Hardin County Courthouse and ends in front of Savannah City Hall at Hanna Boulevard.
Chinese spend billions shopping online on 'Singles Day'
E-commerce giant Alibaba on Saturday kicked off its ninth edition of the 11.11 Global Shopping Festival, its annual sales event. Alibaba turned 100,000 physical shops around China into "smart stores" for this year's event.
Walmart's Black Friday 2017 ad is out!
JCPenney and Macy's are among the retailers in the Staten Island Mall that have already released their Black Friday ads . Store maps will be available on the Walmart app beginning November 14, and will be available day-of in stores.
Broncos bench QB Trevor Siemian, promote Brock Osweiler
Vance Joseph informed his team Wednesday morning. "It's my job to do what's best for the football team", Joseph said Tuesday. For much of a chilly Monday night in Kansas City, backup quarterback Brock Osweiler sat on the bench in an oversized coat.
NASA releases creepy space sounds for Halloween
Next up are the plasma waves , like the roaring ocean surf, captured using the EMFISIS instrument aboard NASA's Van Allen Probes. The compressed signals vary in frequency and time, and feature rising and falling tones similar to Earth's radio emissions.
Gurriel issued five-game ban, but not in World Series
Darvish termed Gurriel's ugly gesture "disrespectful" but was mostly in a forgiving mood, suggesting it be a learning experience. He was sent to the Dodgers at this year's July 31 trade deadline. "It's just learn from it, and we've got to move forward".