QUAL­COMM SPURNS BROAD­COM’S $103B BID

USA TODAY International Edition - - MONEY -

Qual­comm is re­ject­ing Broad­com’s un­so­licited $103 bil­lion takeover pro­posal, say­ing the bid “sig­nif­i­cantly un­der­val­ues” the San Diego wire­less telecom­mu­ni­ca­tions com­pany. Last week, Broad­com pro­posed the merger — to­tal­ing $130 bil­lion in­clud­ing debt it would as­sume — amount­ing to the largest-ever tech­nol­ogy ac­qui­si­tion, ac­cord­ing to Dealogic. The com­bined com­pany would cre­ate a global com­mu­ni­ca­tions tech gi­ant with about $51 bil­lion in an­nual rev­enue and ma­jor cus­tomers such as Ap­ple.

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