Qualcomm says open to talks with Broadcom for better offer

Qualcomm says open to talks with Broadcom for better offer

FILE PHOTO: A sign on the Qualcomm campus is seen, as chip maker Broadcom Ltd announced an unsolicited bid to buy peer Qualcomm Inc for $103 billion, in San Diego, California, U.S. November 6, 2017. REUTERS/Mike Blake/File Photo
REUTERS: Qualcomm Inc is open to discussing a buyout offer from Broadcom Ltd that "reflects the true value" of the chipmaker and better addresses concerns about regulatory hurdles to a deal, the company said on Friday.Qualcomm and Broadcom executives met for the first time on Feb. 14 to discuss the existing acquisition offer.Qualcomm's board maintained its view that Broadcom's existing US$121 billion proposal materially undervalues the company and has an unacceptably high level of risk, and is not in the best interests of its stockholders.(Reporting by Supantha Mukherjee in Bengaluru; Editing by Savio D'Souza)
Source: Reuters
 Source : http://www.channelnewsasia.com/news/business/qualcomm-says-open-to-talks-with-broadcom-for-better-offer-9966768