Inside sources claim that Qualcomm’s board of directors will reject Broadcom’s offer to acquire the Snapdragon chip designer. The board has not made any official statements, but has allegedly met on Sunday to discuss the offer.
Broadcom’s offer was for $70 a share – valuing Qualcomm at just north of $100 billion dollars (the deal would include $25 billion of debt). Qualcomm’s stock closed at $64.57 a share on Friday, however the board of directors believes Broadcom’s offer undervalues their company.
Meanwhile, Qualcomm is trying to acquire NXP for $38 billion but NXP’s shareholders are…