Qualcomm rejects Broadcom's buyout bid but offers to negotiate
This past Monday, Broadcom was willing to offer almost $121 billion in cash and stock to acquire Qualcomm. It didn't even take a week for the US chip company to decline Broadcom's offer. In a press release titled "Qualcomm board of directors unanimously rejects revised Broadcom proposal", the company does exactly that. That would seem to be the end of the story, given that Broadcom's most recent offer was its "best and final." It seems this tale isn't quite told yet, though-Qualcomm goes on to offer an in-person meeting with Broadcom's CEO Hock Tan to discuss the terms of a possible deal.
The aforementioned offer to meet with Broadcom's top brass comes in the form of a surprisingly frank public letter-signed by the chairman of Qualcomm's board of directors, Paul Jacobs-and says the purchase offer "raises more questions than it answers." ...