Broadcom (AVGO) Gears Up for Hostile Fight as Qualcomm (QCOM) Rejects $103B Takeover Offer

UPDATE: Qualcomm (QCOM) PT Raised to $83 at Canaccord Genuity

November 13, 2017 11:47 AM EST

(Updated - November 13, 2017 1:19 PM EST)

(updated to expand analyst comment)

Canaccord Genuity raised its price target on Qualcomm (NASDAQ: QCOM) to $83.00 (from $76.00) while maintaining a Buy rating after the company rejected the offer from AVGO.

Analyst T. Michael Walkley cited... More

Broadcom Ltd. (AVGO) Says It's Committed to Acquisition of Qualcomm (QCOM)

November 13, 2017 11:01 AM EST

Broadcom Limited (NASDAQ: AVGO) today announced that it remains fully committed to pursuing its acquisition of Qualcomm Incorporated (NASDAQ: QCOM) ("Qualcomm"). Broadcom's offer of $70.00 per share, which consists of $60.00 in cash and $10.00 per share in Broadcom shares, represents a 28% premium over the closing price of Qualcomm's... More

Qualcomm's (QCOM) Board Unanimously Rejects Broadcom's (AVGO) Unsolicited Proposal

November 13, 2017 8:51 AM EST

Qualcomm Incorporated (NASDAQ: QCOM) today announced that its Board of Directors unanimously rejected the unsolicited proposal announced by Broadcom Limited (Nasdaq: AVGO) on November 6, 2017.

"It is the Board's unanimous belief that Broadcom's proposal significantly undervalues Qualcomm... More

Wall Street ticks up as dividend payers rise, GE slashes payout

November 13, 2017 7:20 AM EST

By Rodrigo Campos

NEW YORK (Reuters) - U.S. stock indexes rose on Monday as a sharp drop in General Electric shares was more than offset by gains in high dividend-paying sectors including consumer staples and utilities.

General Electric (NYSE: GE) slashed its dividend by 50 percent and cut its profit forecast while unveiling a plan that narrowed its focus on aviation, power and healthcare.

Shares of the industrial conglomerate fell 7.2 percent to $19.02 after touching a more than five-year low of $18.75.

"People who were in GE for their... More

Qualcomm (QCOM) Preparing to Reject Broadcom (AVGO) $103B Takeover Offer - Reuters

November 13, 2017 6:23 AM EST

Qualcomm (NASDAQ: QCOM) is preparing plans to reject Broadcom's (NASDAQ: AVGO) $103 billion takeover bid as soon as this week, the Reuters reported citing people familiar with the matter.

... More

Qualcomm draws up plans to rebuff Broadcom's $103 billion offer: sources

November 12, 2017 4:36 PM EST

By Greg Roumeliotis and Liana B. Baker

(Reuters) - U.S. chipmaker Qualcomm Inc (NASDAQ: QCOM) is making preparations to reject rival Broadcom Ltd's (NASDAQ: AVGO) $103 billion bid as early as this week, four people familiar with the matter said on Sunday, setting the stage for one of the biggest-ever takeover battles.

Qualcomm's board of directors could meet as early as Sunday to review the unsolicited acquisition offer and decide on its strategy, the sources said. The preparations for the board meeting indicate... More