Qualcomm Rejects Broadcom's $103B Takeover Bid 1 234 567

Qualcomm Rejects Broadcom's $103B Takeover Bid

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Mobile chipmaker Qualcomm on Monday rejected rival Broadcom Ltd.'s $103-billion takeover bid, saying the offer undervalued the company and would face regulatory hurdles.Shares of Qualcomm rose as much as 2.5 percent to $66.17, while those of Broadcom fell as much as 1.3 percent to $261.55."The Board has concluded that Broadcom's proposal dramatically undervalues Qualcomm and comes with significant regulatory uncertainty," Qualcomm's Presiding Director Tom Horton...

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