Qualcomm officially rejected Broadcom's acquisition: $654.38+03 billion, underestimating us.
It is reported that165438+1On the evening of October 6, Broadcom, an American communication chip manufacturer, announced through official website that it would spend13 billion US dollars to acquire Qualcomm. If this transaction is successful, it will become the largest M&A transaction in the history of the semiconductor industry. 165438+17 October, Qualcomm responded that it would conduct an evaluation. Yesterday, Qualcomm formally rejected Broadcom's acquisition. Let's look at the details.
Qualcomm rejects Broadcom acquisition.
165438+ 10/2, Qualcomm announced that its board of directors rejected Broadcom113 billion on16. Qualcomm's Executive Chairman, Chief Executive Officer and Chief Director respectively expressed the opinions of the board of directors of the company.
PaulJacobs, executive chairman of Qualcomm, said: "The board of directors of the company agreed that Broadcom's offer underestimated the value of Qualcomm."
SteveMollenkopf, CEO of Qualcomm, said, "Qualcomm has advantages over any other enterprise in the fields of mobile, internet, automobile, edge computing and network. We believe that we can create more added value for shareholders. "
Qualcomm Inc
TomHorton, chairman of Qualcomm, said: "The board and management of the company are focused on creating value for the company's shareholders. With the help of financial and legal consultants, after comprehensive evaluation, the board of directors agreed that Broadcom's quotation seriously underestimated the value of Qualcomm. "
This means that a two-way merger will not happen. Earlier, people familiar with the matter predicted that Qualcomm would reject Broadcom from two aspects: low quotation and government anti-monopoly. Sure enough.
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However, Broadcom will not give up. The CEO of Broadcom said: "We still believe that our proposal is the most attractive and value-adding option that Qualcomm shareholders can see, and we are encouraged by their response.
He also said, "Many people told us that they would like to see Qualcomm sit down and discuss our proposal with us. We are still very inclined to actively interact with the board of directors and management in Qualcomm. "
It can be seen that what will happen between Broadcom and Qualcomm should not be over yet.