techkenyot.com
techkenyot.com November 24, 2017


Qualcomm board rejects Broadcom's $100 billion takeover bid

14 November 2017, 08:27 | Hattie Nash

Largest ever tech takeover 'significantly undervalues' chipmaker

Qualcomm rejects Broadcom's $103bn takeover offer

(It could also make both moves, of course, targeting shareholders with better terms than the first proposal held.) Or, as Barron's pointed out, Broadcom could make more hostile moves, such as trying to nominate allies to Qualcomm's board.

The rebuff ratchets up pressure on Broadcom to sweeten its offer or embark on a proxy battle, which carries its own risk of rejection by shareholders. Broadcom responded "it remains fully committed to pursuing its acquisition of Qualcomm Incorporated".

Qualcomm rejected an unsolicited, $103 billion offer from Broadcom, saying that the proposal is significantly undervalued and that a tie-up between the massive chipmakers would face substantial regulatory resistance.

'Israel will act in Syria according to its security needs,' Netanyahu says
Israel has long complained about the involvement of archenemy Iran, and its proxy Hezbollah, in Syria. Israel has largely stayed out of the war but has struck suspected weapon convoys to Hezbollah.

"We are confident in our ability to create significant additional value for our stockholders as we continue our growth in these attractive segments and lead the transition to 5G", he added. Today's Broadcom is the product of a $37 billion combination in 2016 between Avago, a Singapore-based company that was once part of a former unit of pioneering PC maker Hewlett-Packard, and Broadcom, another company with origins in Southern California which made chips for tablets, smartphones and other telecom and cable applications. In fact, if the deal goes ahead it would probably the biggest in the technology industry's history, worth more than Dell's purchase of EMC in 2015, which was valued at $67 billion.

"Qualcomm shareholders are likely to hold out for more, but we believe something in the US$80-ish range is likely enough to bring majority around", Sanford C. Bernstein analyst Stacy Rasgon wrote in a note published at the weekend.

Broadcom said it would seek to engage with Qualcomm's board and management.

Shares Trading Above Chikou: Germany Smallcap MSCI Ishares (EWGS)
A reading under 20 would suggest no trend, and a reading from 20-25 would suggest that there is no clear trend signal. The Williams %R indicator helps show the relative situation of the current price close to the period being observed.

Tan, who has built Broadcom through a series of transactions that have helped reshape the US$300 billion semiconductor industry, has previously been able to pull off deals with friendly approaches.

"Many have expressed to us their desire that Qualcomm meet with us to discuss our proposal", he added.

And CEO Steve Mollenkopf said that Qualcomm well positioned for continual growth. "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.

GAIL reports 42% YoY rise in Q2 profit; beats Street estimates
The company had posted a net profit of Rs 34.59 crore in July-September quarter a year ago, Bata said in a BSE filing. The deposits stood at Rs 5.83 lakh crore by end of second quarter, 2017-18 against Rs 5.67 crore.



Other News

Trending Now

Jerry Jones says he's not backing off on Goodell extension
Cowboys Owner Jerry Jones on his weekly radio appearance today essentially telling The NFL and the other owners he's not backing down.

Global 3D Animation Software Market Outlook 2017 Growth, Trends, Forecasts 2022
The intention is to enable readers to understand the key player ecosystem in the global software defined security market . The Global Third-Party Banking Software market consists of different worldwide , regional, and local vendors.

Borussia Dortmund Reportedly Interested in Signing Emre Can
The report suggests a deal could be place before the season is over and Dortmund are looking at getting him for FREE. It is reported Can wants a release clause included in any contract negotiation.

Aerie Pharmaceuticals (AERI) Given News Sentiment Rating of 0.26
It is positive, as 21 investors sold AERI shares while 48 reduced holdings. 33 funds opened positions while 48 raised stakes. Foresite Capital Management II - LLC sold $1.12 million worth of Aerie Pharmaceuticals Inc (NASDAQ:AERI) on Friday, May 26.

Korean FM to visit China to discuss preparations for summit
He also proposed resuming high-level economic dialogue to discuss detailed measures to fix the countries' ties, as well as their trade and economic relations.

Aramark (ARMK) Posts Earnings Results, Misses Estimates By $0.03 EPS
The stock has a market capitalization of $10,461.09, a price-to-earnings ratio of 24.67, a PEG ratio of 1.77 and a beta of 0.50. Rockefeller Financial Services Inc. raised its position in Aramark Holdings Corp.by 31,373.9% in the second quarter.

Advance Auto Parts Inc (AAP) Shares Bought by Tocqueville Asset Management LP
Also, it has an estimated price-earnings (P/E) multiple of 13.59 and a trailing 12-month price-earnings (P/E) multiple of 16.43. Advance Auto Parts has a dividend payout ratio of 4.7% meaning its dividend is sufficiently covered by earnings.

One Tree Hill Cast & Crew Accuse Showrunner of Sexual Harassment
At the time of writing, Schwahn representatives haven't responded to any news outlets request for comment from what we can see. We are incredible proud of these courageous ladies for finding the strength to speak out against this injustice.

Earthquake: Iran calls off rescue operations as death toll rises to 530
Iran has encountered multiple earthquakes in its past, as it sits atop of the Arabian and Eurasian tectonic plates. The quake also reportedly killed an unspecified number of soldiers in an army garrison.

Mahindra Scorpio facelift launched with bigger engine at Rs 9.97 lakh
As for the side profile, it boasts of redesigned ORVMs with integrated side turn indicators, while riding on new alloy wheels. Prices range from Rs 9.97 lakh for the base S3 variant and go up to Rs 14.78 lakh ex-showroom New Delhi for the S11 variant.