Qualcomm has officially rejected Broadcom's $105 billion acquisition offer — an offer so huge it was set to become the world's largest tech deal.
The San Diego-based chipmaker announced on Monday that it was passing on the acquisition, which Broadcom actually valued at $130 billion taking Qualcomm's $25 billion debt into account.
Why? Well, for the simple reason Qualcomm believes it's worth more money.
The company creates key wireless technology like modems and processors for popular smartphones like the iPhone. And though Qualcomm is in the midst of a legal dispute with Apple, the company still believes its overall value is higher than what Broadcom was offering. Read more...
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